Teachers Retirement System of The State of Kentucky raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 458.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,520 shares of the basic materials company’s stock after buying an additional 245,100 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.13% of Steel Dynamics worth $12,875,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at approximately $112,000. Cubist Systematic Strategies LLC grew its holdings in Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares in the last quarter. Cerebellum GP LLC purchased a new position in Steel Dynamics during the 4th quarter valued at approximately $132,000. Amica Retiree Medical Trust purchased a new position in Steel Dynamics during the 4th quarter valued at approximately $143,000. Finally, CoreCommodity Management LLC purchased a new position in Steel Dynamics during the 4th quarter valued at approximately $146,000. Institutional investors and hedge funds own 85.46% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at $47.24 on Wednesday. The stock has a market capitalization of $11,090.63, a P/E ratio of 17.73, a PEG ratio of 0.98 and a beta of 1.27. Steel Dynamics, Inc. has a one year low of $32.15 and a one year high of $50.70. The company has a quick ratio of 2.29, a current ratio of 4.04 and a debt-to-equity ratio of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be paid a dividend of $0.1875 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 28th. Steel Dynamics’s dividend payout ratio (DPR) is currently 18.40%.
Several research firms have weighed in on STLD. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine cut Steel Dynamics from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Credit Suisse Group raised their price target on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Cowen set a $60.00 price target on Steel Dynamics and gave the company a “buy” rating in a report on Monday, February 5th. Finally, BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $46.64.
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Steel Dynamics Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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