Teacher Retirement System of Texas Sells 39,572 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Teacher Retirement System of Texas decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 34.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,421 shares of the basic materials company's stock after selling 39,572 shares during the period. Teacher Retirement System of Texas owned 0.05% of Steel Dynamics worth $9,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in Steel Dynamics by 41.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company's stock worth $433,000 after acquiring an additional 1,119 shares during the period. Ritholtz Wealth Management raised its position in shares of Steel Dynamics by 24.4% during the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after buying an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock valued at $190,000 after buying an additional 145 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Steel Dynamics by 63.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company's stock valued at $839,000 after buying an additional 2,854 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after buying an additional 6,604 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics 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 completion of the sale, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research report on Monday, March 24th. Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $135.00 to $145.00 in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Steel Dynamics Trading Down 1.6%

NASDAQ STLD traded down $2.10 on Friday, hitting $131.97. 1,496,134 shares of the stock were exchanged, compared to its average volume of 1,539,145. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The stock has a fifty day moving average price of $131.19 and a two-hundred day moving average price of $126.31. The firm has a market capitalization of $19.59 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.04 and a beta of 1.37. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same period in the previous year, the firm earned $3.67 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's payout ratio is 26.42%.

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.