Occudo Quantitative Strategies LP Decreases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Occudo Quantitative Strategies LP lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 71.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,052 shares of the basic materials company's stock after selling 14,835 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Steel Dynamics were worth $690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company's stock worth $56,603,000 after acquiring an additional 80,262 shares during the period. Czech National Bank boosted its stake in Steel Dynamics by 5.0% in the 4th quarter. Czech National Bank now owns 30,700 shares of the basic materials company's stock worth $3,502,000 after purchasing an additional 1,468 shares during the period. Accurate Wealth Management LLC boosted its stake in Steel Dynamics by 32.0% in the 4th quarter. Accurate Wealth Management LLC now owns 7,553 shares of the basic materials company's stock worth $879,000 after purchasing an additional 1,832 shares during the period. Oak Thistle LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $1,725,000. Finally, Fifth Third Wealth Advisors LLC increased its position in shares of Steel Dynamics by 11.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,497 shares of the basic materials company's stock valued at $285,000 after buying an additional 252 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on STLD. UBS Group upgraded 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 report on Monday, March 24th. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a 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 target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Price Performance

STLD traded up $0.98 during trading on Friday, reaching $134.78. The stock had a trading volume of 1,095,514 shares, compared to its average volume of 1,509,464. The business has a 50-day moving average of $124.71 and a 200-day moving average of $128.20. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock has a market cap of $20.01 billion, a PE ratio of 13.75, a PEG ratio of 1.05 and a beta of 1.44.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion during 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 period in the prior year, the business earned $3.67 EPS. As a group, equities research analysts anticipate 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 buyback program on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is currently 26.42%.

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.