Zurcher Kantonalbank Zurich Cantonalbank Sells 31,993 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,344 shares of the basic materials company’s stock after selling 31,993 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Steel Dynamics were worth $3,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Steel Dynamics in the third quarter worth approximately $25,000. Capital Analysts LLC raised its stake in Steel Dynamics by 97.3% in the third quarter. Capital Analysts LLC now owns 446 shares of the basic materials company’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Selective Wealth Management Inc. bought a new position in Steel Dynamics in the fourth quarter worth approximately $31,000. Atticus Wealth Management LLC bought a new position in Steel Dynamics in the fourth quarter worth approximately $31,000. Finally, Northwest Investment Counselors LLC bought a new position in Steel Dynamics in the fourth quarter worth approximately $35,000. 79.32% of the stock is owned by institutional investors.

In other Steel Dynamics news, SVP Christopher A. Graham sold 4,425 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $76.51, for a total value of $338,556.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.40% of the company’s stock.

Shares of STLD opened at $83.20 on Monday. The firm has a market capitalization of $15.77 billion, a PE ratio of 5.30 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.10 and a quick ratio of 1.51. Steel Dynamics, Inc. has a 1-year low of $49.53 and a 1-year high of $89.69. The company’s fifty day moving average price is $72.97 and its 200-day moving average price is $65.67.

Steel Dynamics (NASDAQ:STLDGet Rating) last posted its quarterly earnings results on Monday, January 24th. The basic materials company reported $5.78 EPS for the quarter, beating the consensus estimate of $5.73 by $0.05. Steel Dynamics had a net margin of 17.46% and a return on equity of 63.43%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The firm’s revenue was up 104.2% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 15.11 EPS for the current fiscal year.

Steel Dynamics declared that its board has authorized a stock repurchase program on Monday, February 28th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 8.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Thursday, March 31st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.63%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 30th. Steel Dynamics’s dividend payout ratio is presently 8.67%.

A number of equities analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $95.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 24th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a research report on Monday, April 4th. StockNews.com started coverage on Steel Dynamics in a research report on Thursday, March 31st. They set a “buy” rating on the stock. BMO Capital Markets reduced their price target on Steel Dynamics from $72.00 to $65.00 in a research report on Wednesday, January 26th. Finally, Wolfe Research downgraded Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 price target on the stock. in a research report on Tuesday, January 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $75.83.

Steel Dynamics Profile (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

Further Reading

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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