Steel Dynamics, Inc. $STLD Holdings Cut by Strs Ohio

Strs Ohio lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,973 shares of the basic materials company’s stock after selling 26,905 shares during the period. Strs Ohio’s holdings in Steel Dynamics were worth $22,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Jacobi Capital Management LLC boosted its position in Steel Dynamics by 1.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 55 shares during the last quarter. Optas LLC grew its stake in Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 58 shares in the last quarter. Hohimer Wealth Management LLC increased its position in Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares during the last quarter. Wright Investors Service Inc. raised its stake in shares of Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after purchasing an additional 64 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Steel Dynamics by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 64 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,125 shares of company stock worth $5,438,226. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $220.39 on Friday. The company has a market cap of $31.89 billion, a P/E ratio of 23.57, a P/E/G ratio of 0.43 and a beta of 1.53. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The business’s 50 day moving average is $245.84 and its two-hundred day moving average is $204.81. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. On average, equities analysts expect that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 1.0%. Steel Dynamics’s dividend payout ratio is 22.67%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Citigroup lifted their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, KeyCorp increased their price target on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.36.

About Steel Dynamics

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.