New York State Common Retirement Fund Sells 16,519 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

New York State Common Retirement Fund cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 137,652 shares of the basic materials company's stock after selling 16,519 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Steel Dynamics worth $16,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of STLD. Czech National Bank lifted its stake in Steel Dynamics by 43.1% during the 3rd quarter. Czech National Bank now owns 27,215 shares of the basic materials company's stock worth $2,918,000 after acquiring an additional 8,199 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Steel Dynamics by 12.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 73,970 shares of the basic materials company's stock worth $7,931,000 after acquiring an additional 8,186 shares in the last quarter. Aquila Investment Management LLC raised its position in Steel Dynamics by 150.0% in the 3rd quarter. Aquila Investment Management LLC now owns 10,000 shares of the basic materials company's stock valued at $1,072,000 after purchasing an additional 6,000 shares in the last quarter. TriaGen Wealth Management LLC raised its position in Steel Dynamics by 2.9% in the 3rd quarter. TriaGen Wealth Management LLC now owns 6,221 shares of the basic materials company's stock valued at $667,000 after purchasing an additional 176 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its position in Steel Dynamics by 129.7% in the 3rd quarter. Accurate Wealth Management LLC now owns 7,037 shares of the basic materials company's stock valued at $751,000 after purchasing an additional 3,974 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STLD has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. UBS Group cut their target price on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 24th. Finally, Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $121.17.

Steel Dynamics Stock Performance

NASDAQ:STLD traded up $1.03 during mid-day trading on Monday, reaching $135.07. 975,316 shares of the stock were exchanged, compared to its average volume of 1,198,173. The company has a 50 day simple moving average of $137.63 and a 200-day simple moving average of $122.66. The stock has a market capitalization of $21.33 billion, a P/E ratio of 9.28 and a beta of 1.42. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.01 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 12.31 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's dividend payout ratio (DPR) is currently 12.64%.

About Steel Dynamics

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.