Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,791,392 shares of the basic materials company’s stock after selling 233,586 shares during the quarter. Northern Trust Corp owned 1.11% of Steel Dynamics worth $211,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STLD. Royal London Asset Management Ltd. boosted its stake in shares of Steel Dynamics by 0.3% in the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after acquiring an additional 12,208 shares during the last quarter. Morgan Stanley raised its holdings in shares of Steel Dynamics by 0.8% during the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock worth $280,105,000 after acquiring an additional 19,833 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after acquiring an additional 1,255,751 shares during the last quarter. Norges Bank purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at about $221,817,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Steel Dynamics by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock valued at $159,969,000 after purchasing an additional 21,143 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets increased their price objective 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. Jefferies Financial Group started coverage on Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price on the stock. Finally, Citigroup increased their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.29.

Check Out Our Latest Stock Report on STLD

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Down 2.2 %

Steel Dynamics stock opened at $125.52 on Monday. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34. The stock’s fifty day simple moving average is $136.03 and its 200-day simple moving average is $127.74. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $19.72 billion, a P/E ratio of 8.62 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts expect that Steel Dynamics, Inc. will post 12.44 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

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.

Featured Articles

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLDFree Report).

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

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.