Hsbc Holdings PLC Has $85.39 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Hsbc Holdings PLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 748,168 shares of the basic materials company's stock after acquiring an additional 38,427 shares during the quarter. Hsbc Holdings PLC owned 0.49% of Steel Dynamics worth $85,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the 4th quarter valued at about $28,000. IAG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter worth approximately $39,000. Avalon Trust Co acquired a new position in Steel Dynamics in the fourth quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Shares of STLD stock traded down $0.11 during trading hours on Tuesday, reaching $127.83. The stock had a trading volume of 333,911 shares, compared to its average volume of 1,496,183. The firm has a market capitalization of $19.16 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The firm has a 50-day simple moving average of $123.83 and a 200-day simple moving average of $128.14. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. The company had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the company posted $3.67 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics announced that its Board of Directors has approved a share buyback program on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. Steel Dynamics's dividend payout ratio (DPR) is 26.42%.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

STLD has been the subject of a number of analyst reports. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and increased their price target for the company from $125.00 to $145.00 in a report on Friday, January 24th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, the stock currently 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.