Union Bancaire Privee UBP SA Purchases Shares of 1,454 Steel Dynamics, Inc. (NASDAQ:STLD)

Union Bancaire Privee UBP SA acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,454 shares of the basic materials company’s stock, valued at approximately $158,000.

Other hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in Steel Dynamics by 59.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,295 shares of the basic materials company’s stock valued at $686,000 after purchasing an additional 1,973 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Steel Dynamics by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 93,763 shares of the basic materials company’s stock valued at $12,142,000 after acquiring an additional 470 shares during the period. Creative Planning lifted its position in Steel Dynamics by 2.6% during the 2nd quarter. Creative Planning now owns 27,138 shares of the basic materials company’s stock worth $3,514,000 after acquiring an additional 684 shares during the period. Truist Financial Corp increased its holdings in shares of Steel Dynamics by 3.1% in the second quarter. Truist Financial Corp now owns 72,834 shares of the basic materials company’s stock valued at $9,432,000 after purchasing an additional 2,190 shares during the period. Finally, New Century Financial Group LLC purchased a new stake in shares of Steel Dynamics during the second quarter worth approximately $246,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Citigroup dropped their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $143.38.

Steel Dynamics Trading Up 1.7 %

Shares of Steel Dynamics stock opened at $129.17 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The business’s fifty day moving average is $126.33 and its two-hundred day moving average is $126.33. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $19.66 billion, a PE ratio of 13.18 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period last year, the business earned $2.61 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 8.93 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 18.78%.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Steel Dynamics 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.