Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,584 shares of the basic materials company’s stock after selling 3,916 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Steel Dynamics were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. CVA Family Office LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC boosted its stake in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 134 shares during the period. Exchange Traded Concepts LLC purchased a new position in Steel Dynamics during the 4th quarter worth approximately $44,000. Finally, Denali Advisors LLC lifted its holdings in shares of Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.4 %

Shares of STLD traded up $0.48 during mid-day trading on Thursday, hitting $130.40. 306,109 shares of the company’s stock were exchanged, compared to its average volume of 1,187,787. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of 8.92 and a beta of 1.42. The firm has a fifty day moving average of $136.80 and a two-hundred day moving average of $121.97. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.83% and a net margin of 12.89%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $4.01 earnings per share. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.41%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Wall Street Analyst Weigh In

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