Gulf International Bank UK Ltd Lowers Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Gulf International Bank UK Ltd trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,100 shares of the basic materials company’s stock after selling 126 shares during the period. Gulf International Bank UK Ltd’s holdings in Steel Dynamics were worth $1,266,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA increased its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth about $48,000. Finally, Brooklyn Investment Group bought a new stake in shares of Steel Dynamics in the third quarter worth about $61,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 1.3 %

Shares of NASDAQ:STLD opened at $135.07 on Friday. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The business has a 50 day simple moving average of $125.39 and a two-hundred day simple moving average of $127.37. The firm has a market capitalization of $20.56 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the previous year, the business posted $2.61 EPS. On average, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s payout ratio is 20.41%.

Steel Dynamics announced that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Tuesday, February 11th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Citigroup reduced their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, UBS Group reissued a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $146.22.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.00% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.