Teachers Retirement System of The State of Kentucky Sells 331 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,474 shares of the basic materials company’s stock after selling 331 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Steel Dynamics were worth $1,615,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STLD. National Bank of Canada FI boosted its position in shares of Steel Dynamics by 481.2% during the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after acquiring an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after buying an additional 225,832 shares in the last quarter. Swedbank AB bought a new position in shares of Steel Dynamics in the 1st quarter worth $32,178,000. Acadian Asset Management LLC raised its position in shares of Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after buying an additional 202,312 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Steel Dynamics during the 2nd quarter valued at $24,670,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 0.5 %

STLD stock opened at $128.22 on Friday. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of 8.81 and a beta of 1.31. The business’s 50 day moving average price is $119.58 and its two-hundred day moving average price is $128.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.81 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 10.36 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.44%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analyst Ratings Changes

STLD has been the subject of several research analyst reports. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Morgan Stanley lowered their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets lowered their price target on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research note on Tuesday, September 17th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $142.71.

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.