Public Sector Pension Investment Board lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free 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
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:STLD – Get 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
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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