New York State Common Retirement Fund cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,300 shares of the basic materials company’s stock after selling 37,000 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of Steel Dynamics worth $8,741,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in STLD. Cipher Capital LP bought a new position in Steel Dynamics in the 2nd quarter valued at $1,010,000. WINTON GROUP Ltd boosted its position in Steel Dynamics by 1.0% during the 3rd quarter. WINTON GROUP Ltd now owns 60,620 shares of the basic materials company’s stock valued at $1,736,000 after acquiring an additional 627 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Steel Dynamics by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 50,120 shares of the basic materials company’s stock valued at $1,308,000 after acquiring an additional 6,100 shares in the last quarter. LSV Asset Management boosted its position in Steel Dynamics by 2.0% during the 3rd quarter. LSV Asset Management now owns 3,202,800 shares of the basic materials company’s stock valued at $91,696,000 after acquiring an additional 61,300 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Steel Dynamics by 2.7% during the 2nd quarter. Principal Financial Group Inc. now owns 767,560 shares of the basic materials company’s stock valued at $20,026,000 after acquiring an additional 20,385 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on STLD shares. Credit Suisse Group raised their price objective on Steel Dynamics from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. BMO Capital Markets raised their price objective on Steel Dynamics from $32.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Steel Dynamics from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, BidaskClub raised Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.33.

Shares of STLD opened at $35.25 on Friday. The firm has a market cap of $7.42 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. The company’s fifty day moving average is $32.54 and its two-hundred day moving average is $28.86. Steel Dynamics, Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $37.33. The company has a quick ratio of 2.20, a current ratio of 3.60 and a debt-to-equity ratio of 0.66.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, October 19th. The basic materials company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.04. Steel Dynamics had a net margin of 5.17% and a return on equity of 13.40%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business earned $0.69 EPS. Steel Dynamics’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 2.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, December 30th. Steel Dynamics’s dividend payout ratio (DPR) is 32.26%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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