Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,066 shares of the basic materials company’s stock after selling 917 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Steel Dynamics were worth $2,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its position in Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after buying an additional 79 shares during the last quarter. Csenge Advisory Group grew its stake in Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares in the last quarter. Greenfield Savings Bank increased its holdings in Steel Dynamics by 0.7% during the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after purchasing an additional 85 shares during the last quarter. Stiles Financial Services Inc increased its holdings in Steel Dynamics by 0.5% during the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after purchasing an additional 99 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Steel Dynamics by 3.4% during the 2nd quarter. Resonant Capital Advisors LLC now owns 3,046 shares of the basic materials company’s stock valued at $396,000 after buying an additional 99 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STLD shares. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets dropped their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $141.29.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $120.96 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $119.89 and a two-hundred day moving average of $128.93. The company has a market cap of $19.01 billion, a P/E ratio of 8.31 and a beta of 1.32. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.81 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 10.57 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

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.