IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 9,572 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 59.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,532 shares of the basic materials company’s stock after selling 9,572 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Steel Dynamics were worth $745,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics during the third quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $28,000. Private Trust Co. NA grew its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the period. IAG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $39,000. Finally, Avalon Trust Co bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $42,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $123.97 on Friday. The firm has a 50 day moving average of $128.46 and a 200-day moving average of $128.52. The firm has a market capitalization of $18.58 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 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 quarter in the prior year, the company earned $2.61 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has authorized a share buyback plan on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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 paid a $0.50 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio is currently 20.41%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of several research reports. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $158.00 in a report on Friday, March 7th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a report on Tuesday, February 11th. Citigroup reduced their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.56.

Steel Dynamics Company Profile

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.