Aware Super Pty Ltd as trustee of Aware Super Has $4.52 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Aware Super Pty Ltd has reduced its stake in Steel Dynamics, Inc. by 63.6%, now holding 35,268 shares valued at approximately $4.52 million.
• Analysts have raised their price targets for Steel Dynamics, with JPMorgan increasing it from $150 to $160 and Wells Fargo from $143 to $150, reflecting a generally positive outlook.
• Steel Dynamics recently announced a quarterly dividend of $0.50, with an annualized yield of 1.4% and a payout ratio of 29.15%.

Aware Super Pty Ltd as trustee of Aware Super decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 63.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,268 shares of the basic materials company's stock after selling 61,744 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in Steel Dynamics were worth $4,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton increased its holdings in Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company's stock worth $34,000 after buying an additional 199 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its position in shares of Steel Dynamics by 2.6% in the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 264,013 shares of the basic materials company's stock valued at $33,859,000 after acquiring an additional 6,652 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Steel Dynamics during the 2nd quarter worth about $400,000. Alpine Woods Capital Investors LLC raised its holdings in shares of Steel Dynamics by 10.4% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company's stock valued at $6,115,000 after purchasing an additional 4,489 shares during the period. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of Steel Dynamics by 2.6% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 28,048 shares of the basic materials company's stock valued at $3,590,000 after purchasing an additional 705 shares during the period. 82.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STLD shares. Wells Fargo & Company boosted their price target on Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday. Finally, Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.89.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $146.05 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm has a 50-day moving average of $134.68 and a 200-day moving average of $130.32. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a market cap of $21.50 billion, a P/E ratio of 21.29, a P/E/G ratio of 1.19 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.72 earnings per share. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics's payout ratio is currently 29.15%.

Steel Dynamics Profile

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.

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