Steel Dynamics, Inc. (NASDAQ:STLD) Position Decreased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,136 shares of the basic materials company’s stock after selling 180 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Steel Dynamics were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Steel Dynamics in the fourth quarter worth about $48,000. Finally, Brooklyn Investment Group acquired a new position in shares of Steel Dynamics in the third quarter worth about $61,000. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. Finally, Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Price Performance

Shares of STLD opened at $135.07 on Friday. The firm has a market cap of $20.56 billion, a PE ratio of 13.78, a PEG ratio of 1.05 and a beta of 1.35. The firm’s 50 day moving average price is $125.39 and its 200 day moving average price is $127.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the business posted $2.61 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has approved a share buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio (DPR) is presently 20.41%.

Steel Dynamics Profile

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.