Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,165 shares of the basic materials company's stock, valued at approximately $521,000.
Several other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC increased its position in shares of Steel Dynamics by 39.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 29,895 shares of the basic materials company's stock worth $3,739,000 after purchasing an additional 8,391 shares during the last quarter. Praxis Investment Management Inc. increased its position in shares of Steel Dynamics by 63.5% during the 1st quarter. Praxis Investment Management Inc. now owns 3,090 shares of the basic materials company's stock worth $386,000 after purchasing an additional 1,200 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Steel Dynamics by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company's stock worth $2,074,000 after purchasing an additional 435 shares during the last quarter. PKO Investment Management Joint Stock Co increased its position in shares of Steel Dynamics by 34.0% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 6,700 shares of the basic materials company's stock worth $838,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on STLD. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. Morgan Stanley boosted their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a report on Monday, March 24th. Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.
Get Our Latest Report on Steel Dynamics
Steel Dynamics Stock Performance
Shares of NASDAQ STLD opened at $128.22 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The stock's fifty day moving average price is $129.48 and its two-hundred day moving average price is $126.08. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 0.95 and a beta of 1.38.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period in the prior year, the firm posted $3.67 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.
Steel Dynamics Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's dividend payout ratio is 26.42%.
Insider Buying and Selling at Steel Dynamics
In other news, Director Gabriel Shaheen sold 1,254 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now directly owns 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the sale, the senior vice president now owns 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.
Steel Dynamics Company Profile
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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.
Further Reading
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