Beacon Pointe Advisors LLC Sells 3,993 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Beacon Pointe Advisors LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,611 shares of the basic materials company's stock after selling 3,993 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Steel Dynamics were worth $412,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of STLD. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock worth $642,033,000 after purchasing an additional 451,630 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Steel Dynamics by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company's stock worth $419,697,000 after acquiring an additional 30,350 shares during the period. Capital Research Global Investors increased its position in shares of Steel Dynamics by 29.4% during the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after buying an additional 815,629 shares during the period. First Trust Advisors LP grew its holdings in Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock worth $362,636,000 after acquiring an additional 393,516 shares during the period. Finally, Norges Bank bought a new stake in Steel Dynamics in the fourth quarter worth approximately $336,426,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Stock Down 0.9 %

Steel Dynamics stock traded down $1.16 during trading hours on Thursday, hitting $129.55. The stock had a trading volume of 1,303,520 shares, compared to its average volume of 1,500,728. The stock's 50-day moving average price is $123.53 and its 200-day moving average price is $128.16. The stock has a market capitalization of $19.42 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business posted $3.67 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics announced that its board has approved a share repurchase plan on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Steel Dynamics's dividend payout ratio is presently 26.42%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. KeyCorp raised 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. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Morgan Stanley set a $140.00 price objective on shares of Steel Dynamics and gave the stock an "overweight" rating in a report on Thursday, April 24th. StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the company from $135.00 to $145.00 in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $147.44.

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.