Amalgamated Bank Sells 16,107 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Amalgamated Bank cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,631 shares of the basic materials company's stock after selling 16,107 shares during the quarter. Amalgamated Bank's holdings in Steel Dynamics were worth $5,271,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Royal London Asset Management Ltd. boosted its stake in Steel Dynamics by 0.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company's stock valued at $401,574,000 after purchasing an additional 12,208 shares during the period. Morgan Stanley boosted its stake in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company's stock valued at $280,105,000 after purchasing an additional 19,833 shares during the period. Northern Trust Corp boosted its stake in Steel Dynamics by 6.4% in the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company's stock valued at $217,118,000 after purchasing an additional 122,507 shares during the period. Ameriprise Financial Inc. boosted its stake in Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company's stock valued at $212,447,000 after purchasing an additional 1,255,751 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company's stock valued at $118,787,000 after acquiring an additional 11,026 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of STLD stock traded up $0.11 on Tuesday, hitting $132.71. 1,054,204 shares of the company's stock were exchanged, compared to its average volume of 1,202,411. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The stock has a market cap of $20.96 billion, a P/E ratio of 9.11 and a beta of 1.47. The company has a 50 day moving average of $138.25 and a 200 day moving average of $123.64.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company earned $4.01 EPS. Steel Dynamics's revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts predict that Steel Dynamics, Inc. will post 12.76 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's dividend payout ratio is presently 12.64%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STLD. BMO Capital Markets upped their target price on Steel Dynamics from $110.00 to $120.00 and gave the company 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 for the company in a research report on Wednesday, January 24th. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of "Hold" and a consensus price target of $121.17.

Steel Dynamics Company 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.