Elo Mutual Pension Insurance Co Has $1.82 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Elo Mutual Pension Insurance Co lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 20.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,911 shares of the basic materials company’s stock after purchasing an additional 2,667 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Steel Dynamics were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp boosted its stake in Steel Dynamics by 0.9% during the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after buying an additional 88 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 91 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Steel Dynamics by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $366,000 after acquiring an additional 101 shares in the last quarter. Center For Asset Management LLC increased its stake in Steel Dynamics by 3.6% in the fourth quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company’s stock valued at $371,000 after acquiring an additional 113 shares during the period. Finally, Cidel Asset Management Inc. raised its position in Steel Dynamics by 6.2% in the fourth quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 3.1 %

Shares of NASDAQ:STLD opened at $123.97 on Friday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The firm has a market cap of $18.58 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $128.46 and its two-hundred day moving average price is $128.66.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the firm posted $2.61 earnings per share. As a group, research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 1.61%. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on STLD. KeyCorp raised 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. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $132.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $145.00 to $158.00 in a report on Friday, March 7th. Five 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, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

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.