Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,033 shares of the basic materials company’s stock after selling 440 shares during the quarter. OLD National Bancorp IN’s holdings in Steel Dynamics were worth $1,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in shares of Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after acquiring an additional 1,255,751 shares in the last quarter. Assetmark Inc. boosted its position in shares of Steel Dynamics by 105.7% during the 3rd quarter. Assetmark Inc. now owns 789,836 shares of the basic materials company’s stock worth $84,686,000 after acquiring an additional 405,836 shares in the last quarter. Sapient Capital LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $38,644,000. Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 29.0% during the 3rd quarter. Nordea Investment Management AB now owns 997,827 shares of the basic materials company’s stock worth $106,139,000 after acquiring an additional 224,226 shares in the last quarter. Finally, ING Groep NV boosted its position in shares of Steel Dynamics by 832.8% during the 3rd quarter. ING Groep NV now owns 213,975 shares of the basic materials company’s stock worth $22,942,000 after acquiring an additional 191,036 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $134.16 on Wednesday. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The stock has a market cap of $21.19 billion, a PE ratio of 9.20 and a beta of 1.42. The business’s fifty day moving average price is $136.80 and its two-hundred day moving average price is $121.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.37 EPS. On average, analysts forecast that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.37%. Steel Dynamics’s dividend payout ratio (DPR) is 12.61%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STLD. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group reduced their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average target price of $121.17.

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.