Wellington Management Group LLP Trims Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Wellington Management Group LLP lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 60.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,934 shares of the basic materials company's stock after selling 91,804 shares during the quarter. Wellington Management Group LLP's holdings in Steel Dynamics were worth $6,723,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Steel Dynamics by 105.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,907 shares of the basic materials company's stock worth $2,385,000 after buying an additional 10,716 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $570,000. Park Square Financial Group LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $45,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Steel Dynamics in the 4th quarter valued at $10,786,000. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Steel Dynamics during the 4th quarter worth $2,703,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president now owns 125,319 shares in the company, valued at $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by company insiders.

Steel Dynamics Trading Up 1.1%

Shares of STLD stock traded up $1.47 during mid-day trading on Friday, reaching $133.57. The company's stock had a trading volume of 487,871 shares, compared to its average volume of 1,537,634. 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 firm has a market capitalization of $19.83 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38. The company's 50 day simple moving average is $125.98 and its 200-day simple moving average is $127.25. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $4.37 billion for the quarter, compared to analyst estimates 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 company posted $3.67 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics announced that its board has initiated a stock buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STLD. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. 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. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $147.44.

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.