OLD National Bancorp IN Sells 440 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

OLD National Bancorp IN trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,033 shares of the basic materials company’s stock after selling 440 shares during the quarter. OLD National Bancorp IN’s holdings in Steel Dynamics were worth $1,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. CVA Family Office LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC raised its holdings in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 134 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $44,000. Finally, Denali Advisors LLC raised its holdings in shares of Steel Dynamics by 99.0% during the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 202 shares during the period. 82.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $121.17.

Steel Dynamics Stock Down 2.3 %

Steel Dynamics stock opened at $134.16 on Wednesday. The firm has a market capitalization of $21.19 billion, a PE ratio of 9.20 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The company’s 50-day moving average is $136.80 and its 200-day moving average is $121.97. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the company posted $4.37 EPS. The business’s revenue was down 12.3% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business 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 represents a $1.84 dividend on an annualized basis and a yield of 1.37%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.61%.

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.