Public Sector Pension Investment Board Boosts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Public Sector Pension Investment Board lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 3.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,495 shares of the basic materials company’s stock after acquiring an additional 200 shares during the period. Public Sector Pension Investment Board’s holdings in Steel Dynamics were worth $693,000 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. Commerce Bank lifted its stake in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 73 shares during the last quarter. Covestor Ltd lifted its position in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the last quarter. Dorsey Wright & Associates boosted its stake in Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares in the last quarter. Greenleaf Trust grew its position in Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after acquiring an additional 96 shares during the last quarter. Finally, Stiles Financial Services Inc raised its stake in shares of Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after acquiring an additional 99 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock worth $3,885,938 in the last quarter. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

STLD has been the subject of a number of research reports. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Steel Dynamics has an average rating of “Hold” and an average price target of $145.63.

Get Our Latest Stock Analysis on Steel Dynamics

Steel Dynamics Stock Down 1.3 %

Shares of NASDAQ:STLD opened at $136.90 on Friday. The stock’s 50-day moving average is $136.76 and its 200 day moving average is $128.04. The company has a market cap of $20.84 billion, a PE ratio of 12.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the firm earned $3.47 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.34%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Steel Dynamics Company Profile

(Free Report)

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.

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

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