Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,482 shares of the basic materials company’s stock after acquiring an additional 17,489 shares during the quarter. QRG Capital Management Inc. owned approximately 0.05% of Steel Dynamics worth $9,409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics during the third quarter worth $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics in the 4th quarter worth about $28,000. Private Trust Co. NA grew its holdings in 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 buying an additional 245 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Steel Dynamics during the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group acquired a new position in shares of Steel Dynamics during the 3rd quarter valued at about $61,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $133.32 on Friday. The business’s 50-day simple moving average is $125.00 and its 200 day simple moving average is $127.17. The company has a market cap of $20.30 billion, a P/E ratio of 13.60, a PEG ratio of 1.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the business posted $2.61 EPS. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. Morgan Stanley increased their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average price target of $146.22.

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.