Oregon Public Employees Retirement Fund Boosts Stake in Steel Dynamics, Inc. $STLD

Oregon Public Employees Retirement Fund boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 32.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,810 shares of the basic materials company’s stock after buying an additional 3,864 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Steel Dynamics were worth $2,204,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Steel Dynamics by 3.3% in the second quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after buying an additional 230,582 shares during the period. Norges Bank purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $339,769,000. Nordea Investment Management AB increased its holdings in Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after acquiring an additional 630,935 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Steel Dynamics by 15.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after acquiring an additional 260,104 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after purchasing an additional 5,317 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of analyst reports. The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. BMO Capital Markets increased their price target on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday, November 4th. Citigroup upped their price objective on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, KeyCorp reissued an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research note on Wednesday, January 7th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $182.00.

Steel Dynamics Stock Up 0.0%

STLD opened at $169.35 on Tuesday. The company has a market capitalization of $24.73 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.48. The firm has a 50-day simple moving average of $165.89 and a two-hundred day simple moving average of $146.44. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $178.36.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is 26.49%.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Company Profile

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.