26,000 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by MMCAP International Inc. SPC

MMCAP International Inc. SPC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,000 shares of the basic materials company’s stock, valued at approximately $2,966,000.

Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the 4th quarter worth approximately $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the 3rd 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 last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s 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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $133.48 on Wednesday. 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 company’s fifty day moving average price is $124.31 and its 200 day moving average price is $127.08. The company has a market capitalization of $20.32 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business posted $2.61 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics announced that its board has approved a stock buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company 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 1.50%. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics’s payout ratio is 18.78%.

Wall Street Analyst Weigh In

STLD has been the topic of several recent research reports. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Citigroup dropped their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $146.22.

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.