SPC Financial Inc. Sells 118 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

SPC Financial Inc. lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,363 shares of the basic materials company’s stock after selling 118 shares during the quarter. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of STLD. International Assets Investment Management LLC lifted its stake in Steel Dynamics by 1,051.9% during the 3rd quarter. International Assets Investment Management LLC now owns 9,330 shares of the basic materials company’s stock valued at $1,176,000 after acquiring an additional 8,520 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Steel Dynamics by 3.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,191 shares of the basic materials company’s stock valued at $1,285,000 after purchasing an additional 360 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Steel Dynamics by 11.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 165 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Steel Dynamics by 3.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,650 shares of the basic materials company’s stock valued at $838,000 after purchasing an additional 248 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Steel Dynamics by 46.9% during the 3rd quarter. Van ECK Associates Corp now owns 256,597 shares of the basic materials company’s stock valued at $33,009,000 after purchasing an additional 81,933 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 3.2 %

NASDAQ STLD opened at $126.37 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The company has a market capitalization of $19.24 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock has a 50 day moving average price of $125.87 and a 200-day moving average price of $127.61.

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 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 prior year, the firm posted $2.61 EPS. As a group, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has initiated a share buyback plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

STLD has been the subject of several research reports. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $146.22.

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.