Sprott Inc. Has $10.69 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Sprott Inc. reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,700 shares of the basic materials company’s stock after selling 5,200 shares during the period. Sprott Inc.’s holdings in Steel Dynamics were worth $10,688,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics 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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction 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.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STLD. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. Morgan Stanley upped 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. UBS Group reiterated a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. Finally, Jefferies Financial Group raised shares of 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. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Trading Up 0.2 %

Shares of STLD stock opened at $133.48 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market cap of $20.32 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $124.31 and its two-hundred day moving average is $127.08.

Steel Dynamics (NASDAQ:STLD) last posted its 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business earned $2.61 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its Board of Directors has approved a share buyback program on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management 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. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 1.50%. Steel Dynamics’s dividend payout ratio is presently 18.78%.

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.