State of Alaska Department of Revenue Has $4.64 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

State of Alaska Department of Revenue trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,288 shares of the basic materials company’s stock after selling 1,765 shares during the quarter. State of Alaska Department of Revenue’s holdings in Steel Dynamics were worth $4,639,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of STLD. Nordea Investment Management AB raised its holdings in Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Steel Dynamics in the 4th quarter worth about $14,762,000. Barclays PLC lifted its position in Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after acquiring an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Steel Dynamics by 13.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after purchasing an additional 59,668 shares during the last quarter. Finally, Summit Global Investments bought a new stake in Steel Dynamics during the 3rd quarter worth approximately $9,372,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Up 0.7 %

NASDAQ STLD opened at $149.26 on Tuesday. The business’s fifty day moving average is $129.70 and its 200-day moving average is $117.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of 10.23 and a beta of 1.42. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the business posted $4.37 EPS. Equities research analysts predict that Steel Dynamics, Inc. will post 11.63 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Investors of record on Sunday, March 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s payout ratio is 12.61%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the stock an “underweight” rating in a report on Tuesday, December 12th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $118.13.

View Our Latest Stock Analysis on STLD

Steel Dynamics Profile

(Free Report)

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.

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

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