Steel Dynamics, Inc. (NASDAQ:STLD) Position Lowered by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,587 shares of the basic materials company’s stock after selling 646 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Steel Dynamics were worth $1,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Barclays PLC grew its position in shares of Steel Dynamics by 21.8% during the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after buying an additional 80,262 shares during the last quarter. World Investment Advisors LLC acquired a new position in Steel Dynamics in the third quarter valued at approximately $15,880,000. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $25,000. Tidal Investments LLC grew its holdings in shares of Steel Dynamics by 6.4% during the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock valued at $3,330,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $650,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.0 %

STLD opened at $127.34 on Monday. 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 has a market capitalization of $19.09 billion, a PE ratio of 12.99, a P/E/G ratio of 1.05 and a beta of 1.35. The stock’s fifty day moving average is $124.00 and its 200-day moving average is $128.16. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the previous year, the business earned $3.67 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.42%.

Steel Dynamics announced that its board has initiated a share repurchase program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent research reports. Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a report on Tuesday, February 11th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and raised their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.44.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.30% of the company’s stock.

About Steel Dynamics

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.