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

Illinois Municipal Retirement Fund cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,699 shares of the basic materials company’s stock after selling 12,661 shares during the period. Illinois Municipal Retirement Fund’s holdings in Steel Dynamics were worth $9,176,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STLD. CVA Family Office LLC acquired a new position in Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC lifted its stake in 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 purchasing an additional 134 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Steel Dynamics during the fourth quarter worth $44,000. Finally, Denali Advisors LLC lifted its stake in 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 purchasing an additional 202 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STLD shares. Citigroup upped their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group reduced their price objective 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. Finally, BMO Capital Markets increased their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Performance

NASDAQ:STLD 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 business’s fifty day moving average price is $136.80 and its 200 day moving average price is $121.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34.

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

Steel Dynamics Increases Dividend

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

About Steel Dynamics

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.