Steel Dynamics, Inc. $STLD Shares Sold by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 40.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 450,108 shares of the basic materials company’s stock after selling 311,715 shares during the period. Caisse de depot et placement du Quebec owned about 0.31% of Steel Dynamics worth $103,282,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Steel Dynamics during the second quarter worth $2,844,501,000. Life Cycle Investment Partners Ltd acquired a new position in Steel Dynamics in the fourth quarter worth $586,702,000. Norges Bank bought a new stake in Steel Dynamics during the fourth quarter valued at $564,590,000. Boston Partners increased its stake in Steel Dynamics by 147.9% during the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Steel Dynamics during the second quarter worth $211,159,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on 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 owned 102,837 shares of the company’s stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is owned by insiders.

Steel Dynamics Stock Up 2.1%

STLD stock opened at $235.90 on Thursday. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $242.65 and its 200 day simple moving average is $223.31. The stock has a market cap of $33.81 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 0.44 and a beta of 1.52. Steel Dynamics, Inc. has a fifty-two week low of $126.88 and a fifty-two week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 EPS. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 19.22%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on STLD shares. UBS Group lifted their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Barclays increased their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Bank of America cut their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company lowered their target price on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.27.

Steel Dynamics 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.