Steel Dynamics, Inc. $STLD Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,359 shares of the basic materials company’s stock after selling 21,734 shares during the period. Strs Ohio owned approximately 0.10% of Steel Dynamics worth $19,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new stake in Steel Dynamics during the 2nd quarter worth $30,000. Rosenberg Matthew Hamilton increased its position in shares of Steel Dynamics by 306.2% during the second 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 last quarter. Toth Financial Advisory Corp increased its position in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. Covestor Ltd lifted its stake in shares of Steel Dynamics by 44.3% in the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Finally, CNB Bank purchased a new position in Steel Dynamics in the third quarter valued at about $43,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on STLD. Morgan Stanley restated an “equal weight” rating and set a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Jefferies Financial Group increased their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $182.00.

Insider Transactions at Steel Dynamics

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

Steel Dynamics Stock Up 1.4%

STLD stock opened at $181.32 on Friday. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.76 and a beta of 1.48. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $182.81. The firm has a fifty day moving average price of $169.72 and a two-hundred day moving average price of $149.04. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.1%. Steel Dynamics’s dividend payout ratio is 26.49%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.