Numerai GP LLC Sells 4,088 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Numerai GP LLC trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 33.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,015 shares of the basic materials company's stock after selling 4,088 shares during the quarter. Numerai GP LLC's holdings in Steel Dynamics were worth $914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Steel Dynamics in the fourth quarter valued at approximately $336,426,000. Capital Research Global Investors increased its position in 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in Steel Dynamics by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after buying an additional 451,630 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Steel Dynamics by 14.1% in the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock worth $362,636,000 after buying an additional 393,516 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Steel Dynamics by 17.1% during the 4th quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company's stock worth $202,507,000 after acquiring an additional 259,361 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

STLD traded up $1.28 on Monday, hitting $136.06. 1,288,041 shares of the stock traded hands, compared to its average volume of 1,508,615. The business has a fifty day moving average price of $124.71 and a two-hundred day moving average price of $128.18. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The firm has a market capitalization of $20.20 billion, a PE ratio of 13.88, a P/E/G ratio of 1.05 and a beta of 1.44.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. 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 firm posted $3.67 EPS. 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 of Directors has authorized a share 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued 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 1.47%. Steel Dynamics's payout ratio is presently 26.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STLD. StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research note 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 report on Tuesday, February 11th. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $135.00 to $145.00 in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Steel Dynamics currently has an average rating of "Moderate Buy" and an average target price 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.