Retirement Systems of Alabama Sells 1,300 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Retirement Systems of Alabama trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 4.0% during the third quarter, Holdings Channel reports. The fund owned 31,281 shares of the basic materials company’s stock after selling 1,300 shares during the quarter. Retirement Systems of Alabama’s holdings in Steel Dynamics were worth $3,944,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Steel Dynamics by 11.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,289 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 351 shares during the period. Fifth Third Bancorp raised its holdings in Steel Dynamics by 5.6% in the 2nd quarter. Fifth Third Bancorp now owns 6,125 shares of the basic materials company’s stock worth $793,000 after acquiring an additional 325 shares during the period. First Merchants Corp acquired a new position in Steel Dynamics during the 2nd quarter worth $441,000. Verdence Capital Advisors LLC lifted its position in Steel Dynamics by 8.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 16,269 shares of the basic materials company’s stock worth $2,107,000 after acquiring an additional 1,263 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in Steel Dynamics by 1.8% during the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock valued at $76,697,000 after acquiring an additional 10,701 shares during the period. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STLD. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets upped their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group restated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Finally, Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.25.

Check Out Our Latest Research Report on STLD

Steel Dynamics Price Performance

NASDAQ:STLD opened at $115.29 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a 50-day moving average of $136.24 and a 200-day moving average of $127.58. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of 10.43 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLDGet Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the company earned $3.47 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Steel Dynamics Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLDFree Report).

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

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.