Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 14.0% in the fourth quarter, HoldingsChannel reports. The firm owned 77,699 shares of the basic materials company’s stock after selling 12,661 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Steel Dynamics were worth $9,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Steel Dynamics during the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in Steel Dynamics during the 4th quarter valued at $29,000. Lindbrook Capital LLC raised its stake in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 134 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Steel Dynamics during the 4th quarter valued at $44,000. Finally, Denali Advisors LLC raised its stake in Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Citigroup lifted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.17.

Read Our Latest Stock Report on Steel Dynamics

Steel Dynamics Price Performance

STLD opened at $134.16 on Wednesday. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 9.20 and a beta of 1.42. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $136.80 and a 200 day moving average price of $121.97.

Steel Dynamics (NASDAQ:STLDGet Free Report) last released 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 firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. Steel Dynamics’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.37 EPS. Analysts forecast that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a dividend of $0.46 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.37%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

About Steel Dynamics

(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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