Mercer Global Advisors Inc. ADV Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Mercer Global Advisors Inc. ADV reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,324 shares of the basic materials company’s stock after selling 2,480 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Steel Dynamics were worth $1,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Century Advisors LLC purchased a new position in Steel Dynamics in the fourth quarter worth $2,233,000. Toronto Dominion Bank raised its position in shares of Steel Dynamics by 34.9% in the fourth quarter. Toronto Dominion Bank now owns 40,252 shares of the basic materials company’s stock valued at $2,498,000 after purchasing an additional 10,417 shares during the period. IndexIQ Advisors LLC boosted its holdings in Steel Dynamics by 39.9% in the 4th quarter. IndexIQ Advisors LLC now owns 1,437 shares of the basic materials company’s stock worth $89,000 after buying an additional 410 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Steel Dynamics by 4.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 55,278 shares of the basic materials company’s stock valued at $3,431,000 after buying an additional 2,191 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in shares of Steel Dynamics by 14.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,664 shares of the basic materials company’s stock worth $2,026,000 after acquiring an additional 4,169 shares in the last quarter. 79.32% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on STLD. Wolfe Research lowered Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, January 11th. The Goldman Sachs Group upped their price target on Steel Dynamics from $89.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, March 22nd. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. BMO Capital Markets cut their price objective on shares of Steel Dynamics from $72.00 to $65.00 in a research report on Wednesday, January 26th. Finally, StockNews.com initiated coverage on shares of Steel Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $84.25.

In related news, SVP Christopher A. Graham sold 4,425 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $76.51, for a total value of $338,556.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is currently owned by insiders.

STLD stock opened at $93.24 on Friday. The company has a current ratio of 3.10, a quick ratio of 1.51 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $77.54 and its 200 day moving average is $67.17. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 5.94 and a beta of 1.40. Steel Dynamics, Inc. has a 1-year low of $49.56 and a 1-year high of $100.37.

Steel Dynamics (NASDAQ:STLDGet Rating) last announced its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.43. Steel Dynamics had a net margin of 17.46% and a return on equity of 63.43%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The firm’s quarterly revenue was up 57.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 15.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were given a $0.34 dividend. The ex-dividend date was Wednesday, March 30th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.26. This represents a $1.36 annualized dividend and a yield of 1.46%. Steel Dynamics’s payout ratio is 8.67%.

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

Steel Dynamics Company 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.

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

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