Teachers Retirement System of The State of Kentucky Sells 1,944 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,716 shares of the basic materials company’s stock after selling 1,944 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Steel Dynamics were worth $1,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Steel Dynamics by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 88 shares during the period. Signaturefd LLC grew its holdings in shares of Steel Dynamics by 0.9% during the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 93 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Steel Dynamics by 25.8% during the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares during the period. Allworth Financial LP grew its holdings in shares of Steel Dynamics by 2.2% during the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 103 shares during the period. Finally, Greenfield Savings Bank grew its holdings in shares of Steel Dynamics by 0.9% during the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after acquiring an additional 108 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $128.18 on Friday. The business’s fifty day simple moving average is $131.54 and its two-hundred day simple moving average is $128.32. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 8.80 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business posted $4.01 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 11.74 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.44%. Steel Dynamics’s dividend payout ratio is 12.64%.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Citigroup upped their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, BMO Capital Markets cut their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $127.43.

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.