Aviso Wealth Management Has $239,000 Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Aviso Wealth Management reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,094 shares of the basic materials company’s stock after selling 458 shares during the quarter. Aviso Wealth Management’s holdings in Steel Dynamics were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the third quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at $28,000. Private Trust Co. NA lifted its stake in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the period. IAG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth $39,000. Finally, Avalon Trust Co acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $42,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the topic of several analyst reports. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and increased their target price for the company from $125.00 to $145.00 in a research note on Friday, January 24th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a research report on Monday. Finally, Morgan Stanley upgraded shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $158.00 in a research report on Friday, March 7th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.56.

Steel Dynamics Trading Up 1.1 %

NASDAQ STLD opened at $128.00 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. 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 stock’s 50 day moving average price is $128.38 and its two-hundred day moving average price is $128.43. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results 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 company posted $2.61 earnings per share. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently declared 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 represents a $2.00 dividend on an annualized basis and a yield of 1.56%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

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.