Steel Dynamics, Inc. (STLD) Shares Sold by California State Teachers Retirement System

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California State Teachers Retirement System trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,273 shares of the basic materials company’s stock after selling 11,294 shares during the quarter. California State Teachers Retirement System owned 0.16% of Steel Dynamics worth $10,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of STLD. Valeo Financial Advisors LLC raised its position in Steel Dynamics by 36.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. JOYN Advisors Inc. raised its position in Steel Dynamics by 34.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Ffcm LLC raised its position in Steel Dynamics by 59.3% during the fourth quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 344 shares in the last quarter. Penserra Capital Management LLC raised its position in Steel Dynamics by 28.2% during the fourth quarter. Penserra Capital Management LLC now owns 2,071 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 455 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Steel Dynamics by 6.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,500 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 500 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on STLD. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 27th. Cowen began coverage on shares of Steel Dynamics in a research report on Tuesday, January 8th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $50.18.

NASDAQ:STLD opened at $35.46 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $28.91 and a 12 month high of $52.10. The company has a market capitalization of $7.87 billion, a PE ratio of 6.46, a PEG ratio of 0.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.13 and a current ratio of 3.96.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 4.18 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Sunday, March 31st will be given a $0.24 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.71%. Steel Dynamics’s dividend payout ratio (DPR) is currently 13.66%.

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Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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