Concentric Capital Strategies LP Reduces Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Concentric Capital Strategies LP lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 57.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,577 shares of the basic materials company's stock after selling 27,537 shares during the period. Concentric Capital Strategies LP's holdings in Steel Dynamics were worth $2,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC raised its position in shares of Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company's stock valued at $1,301,000 after buying an additional 6,579 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $1,725,000. Foster & Motley Inc. raised its stake in shares of Steel Dynamics by 8.0% during the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company's stock valued at $4,027,000 after acquiring an additional 2,602 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Steel Dynamics by 9.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company's stock worth $3,123,000 after buying an additional 2,287 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Steel Dynamics by 41.8% in the fourth quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company's stock valued at $433,000 after acquiring an additional 1,119 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Trading Up 0.7 %

STLD traded up $0.89 on Friday, reaching $130.52. 753,895 shares of the company traded hands, compared to its average volume of 1,503,051. The company has a market cap of $19.56 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. 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, Inc. has a one year low of $103.17 and a one year high of $155.56. The firm has a fifty day simple moving average of $123.59 and a two-hundred day simple moving average of $128.13.

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 analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the business posted $3.67 EPS. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.53%. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics announced that its Board of Directors has initiated a stock 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 purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

STLD has been the topic of several research analyst reports. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a research note on Monday, March 24th. StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley set a $140.00 price objective on shares of Steel Dynamics and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Steel Dynamics has an average rating of "Moderate Buy" and an average target price of $147.44.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.30% of the company's stock.

About Steel Dynamics

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.