Public Employees Retirement System of Ohio Sells 6,257 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Public Employees Retirement System of Ohio cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,487 shares of the basic materials company's stock after selling 6,257 shares during the period. Public Employees Retirement System of Ohio's holdings in Steel Dynamics were worth $6,672,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Atomi Financial Group Inc. lifted its holdings in Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock worth $220,000 after purchasing an additional 91 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in Steel Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock worth $366,000 after purchasing an additional 101 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock worth $527,000 after purchasing an additional 101 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock worth $232,000 after acquiring an additional 118 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Steel Dynamics by 7.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company's stock worth $224,000 after acquiring an additional 128 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.30% of the company's stock.

Steel Dynamics Trading Down 2.0%

Steel Dynamics stock traded down $2.49 during mid-day trading on Friday, hitting $122.66. The company's stock had a trading volume of 2,143,083 shares, compared to its average volume of 1,528,961. The company has a 50 day moving average of $125.29 and a 200-day moving average of $127.22. The stock has a market cap of $18.21 billion, a PE ratio of 12.52, a P/E/G ratio of 1.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.40 by $0.04. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the company posted $3.67 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics declared that its board has initiated a share repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Analyst Ratings Changes

Several analysts have recently issued reports on STLD shares. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a report on Monday, March 24th. Morgan Stanley set a $140.00 price objective on Steel Dynamics and gave the stock an "overweight" rating in a report on Thursday, April 24th. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and an average price target of $147.44.

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.