Steel Dynamics, Inc. $STLD Stock Position Increased by California Public Employees Retirement System

California Public Employees Retirement System raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 284,203 shares of the basic materials company’s stock after purchasing an additional 4,662 shares during the period. California Public Employees Retirement System owned 0.19% of Steel Dynamics worth $36,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $30,000. Zions Bancorporation National Association UT acquired a new stake in Steel Dynamics in the 1st quarter valued at approximately $32,000. WPG Advisers LLC bought a new stake in Steel Dynamics during the 1st quarter valued at $32,000. Rosenberg Matthew Hamilton boosted its position in Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 199 shares during the period. Finally, True Wealth Design LLC boosted its position in Steel Dynamics by 120.4% during the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

NASDAQ STLD opened at $171.23 on Thursday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $172.94. The business’s fifty day moving average is $155.37 and its two-hundred day moving average is $139.59. The stock has a market capitalization of $25.01 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.20 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. On average, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STLD. KeyCorp lifted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Jefferies Financial Group upped their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Citigroup boosted their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $174.89.

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.