Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,012 shares of the basic materials company’s stock after selling 11,565 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Steel Dynamics were worth $3,781,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Steel Dynamics during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC grew its stake in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Steel Dynamics during the 4th quarter worth approximately $44,000. Finally, Denali Advisors LLC grew its stake in shares of Steel Dynamics by 99.0% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.2 %

STLD stock traded down $1.62 during trading on Wednesday, reaching $132.73. 984,039 shares of the stock traded hands, compared to its average volume of 1,172,731. The business’s 50 day moving average price is $138.85 and its 200-day moving average price is $125.94. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The firm has a market capitalization of $20.86 billion, a PE ratio of 9.23 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.01 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 12.36 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Analysts Set New Price Targets

STLD has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Citigroup lifted their price objective on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report 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 report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group began coverage on Steel Dynamics in a report on Monday. They set a “hold” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.29.

Insiders Place Their Bets

In other news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.

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.