South Dakota Investment Council Has $1.73 Million Holdings in Steel Dynamics, Inc. $STLD

South Dakota Investment Council trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 79.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,632 shares of the basic materials company’s stock after selling 38,018 shares during the quarter. South Dakota Investment Council’s holdings in Steel Dynamics were worth $1,734,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prosperity Bancshares Inc bought a new stake in Steel Dynamics in the 4th quarter valued at about $25,000. MV Capital Management Inc. bought a new position in shares of Steel Dynamics during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in shares of Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at approximately $31,000. Finally, DV Equities LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $251.26 on Friday. The firm’s fifty day moving average price is $248.64 and its two-hundred day moving average price is $214.00. The stock has a market cap of $36.01 billion, a PE ratio of 22.78, a PEG ratio of 0.48 and a beta of 1.53. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the prior year, the company earned $2.01 EPS. Steel Dynamics’s revenue was up 33.4% compared to the same quarter last year. On average, equities analysts expect that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 19.22%.

Insider Activity

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STLD shares. Bank of America reduced their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Citigroup raised their price target on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley reduced their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.