Steel Dynamics, Inc. $STLD Stake Reduced by Strs Ohio

Strs Ohio trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 143,359 shares of the basic materials company’s stock after selling 21,734 shares during the quarter. Strs Ohio’s holdings in Steel Dynamics were worth $19,989,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC boosted its stake in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 618 shares during the period. Acadian Asset Management LLC boosted its position in shares of Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after buying an additional 1,578 shares during the period. Farther Finance Advisors LLC grew its holdings in Steel Dynamics by 133.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,578 shares of the basic materials company’s stock worth $458,000 after buying an additional 2,043 shares in the last quarter. Fifth Third Bancorp increased its position in Steel Dynamics by 2.7% in the 2nd quarter. Fifth Third Bancorp now owns 7,145 shares of the basic materials company’s stock valued at $915,000 after acquiring an additional 189 shares during the period. Finally, Patton Fund Management Inc. bought a new stake in Steel Dynamics during the 2nd quarter valued at $221,000. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent analyst reports. UBS Group set a $165.00 price target on Steel Dynamics in a research note on Tuesday, November 4th. KeyCorp reissued an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research note on Wednesday, January 7th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $182.00.

Steel Dynamics Stock Performance

Shares of STLD opened at $181.32 on Friday. The firm’s 50 day moving average is $169.72 and its 200-day moving average is $149.04. The stock has a market capitalization of $26.48 billion, a P/E ratio of 24.02, a P/E/G ratio of 0.76 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $182.81.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is currently 26.49%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.