Metis Global Partners LLC Has $1.63 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Metis Global Partners LLC trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,273 shares of the basic materials company’s stock after selling 2,041 shares during the quarter. Metis Global Partners LLC’s holdings in Steel Dynamics were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $48,000. Finally, Brooklyn Investment Group bought a new stake in shares of Steel Dynamics in the third quarter valued at approximately $61,000. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s 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 directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research reports. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $130.50 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock has a fifty day moving average price of $125.69 and a two-hundred day moving average price of $127.54. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm has a market capitalization of $19.87 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.05 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business earned $2.61 EPS. As a group, 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 plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics’s dividend payout ratio is currently 20.41%.

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.