Mutual of America Capital Management LLC Sells 532 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Mutual of America Capital Management LLC trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,376 shares of the basic materials company’s stock after selling 532 shares during the period. Mutual of America Capital Management LLC’s holdings in Steel Dynamics were worth $4,178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Steel Dynamics in the 4th quarter worth $29,000. Wellington Shields & Co. LLC raised its holdings in Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Clear Street Markets LLC lifted its position in Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in Steel Dynamics during the second quarter valued at about $40,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on STLD. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Citigroup upped their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, UBS Group lowered their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $120.29.

Steel Dynamics Trading Down 0.9 %

Steel Dynamics stock opened at $139.77 on Wednesday. The business has a 50 day moving average price of $135.46 and a two-hundred day moving average price of $120.92. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 9.58 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the company posted $4.37 earnings per share. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 11.6 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

About Steel Dynamics

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.