OMERS ADMINISTRATION Corp Has $1.87 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

OMERS ADMINISTRATION Corp trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 24.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,366 shares of the basic materials company's stock after selling 5,388 shares during the period. OMERS ADMINISTRATION Corp's holdings in Steel Dynamics were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Steel Dynamics in the 4th quarter valued at about $336,426,000. Capital Research Global Investors boosted its position in Steel Dynamics by 29.4% during the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after purchasing an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after purchasing an additional 451,630 shares during the last quarter. First Trust Advisors LP raised its position in shares of Steel Dynamics by 14.1% in the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock valued at $362,636,000 after purchasing an additional 393,516 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Steel Dynamics by 17.1% during the 4th quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company's stock worth $202,507,000 after buying an additional 259,361 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on STLD shares. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $135.00 to $145.00 in a report on Monday, March 31st. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the company from $125.00 to $145.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. StockNews.com lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the company an "overweight" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded up $1.28 during trading hours on Monday, hitting $136.06. 1,297,262 shares of the stock were exchanged, compared to its average volume of 1,508,616. The company's fifty day simple moving average is $124.71 and its two-hundred day simple moving average is $128.18. The company has a market cap of $20.20 billion, a PE ratio of 13.88, a price-to-earnings-growth 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 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter last year, the business posted $3.67 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced 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 1.47%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is 26.42%.

Steel Dynamics announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.