Sei Investments Co. Sells 12,800 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Sei Investments Co. cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,618 shares of the basic materials company’s stock after selling 12,800 shares during the period. Sei Investments Co. owned 0.06% of Steel Dynamics worth $9,994,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. 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 research note on Tuesday, February 11th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.56.

Steel Dynamics Stock Down 3.1 %

STLD stock opened at $123.97 on Friday. 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, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market capitalization 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 business has a fifty day moving average price of $128.46 and a 200-day moving average price of $128.66.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the firm earned $2.61 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.61%. Steel Dynamics’s payout ratio is 20.41%.

Steel Dynamics declared that its board has authorized a share repurchase 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 buy up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred 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 transaction, the senior vice president now owns 122,140 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

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.