Alaska Permanent Fund Corp Decreases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Alaska Permanent Fund Corp reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 16.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,584 shares of the basic materials company’s stock after selling 3,916 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Steel Dynamics were worth $2,313,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of Steel Dynamics by 30.4% in the third quarter. CWM LLC now owns 4,069 shares of the basic materials company’s stock valued at $436,000 after acquiring an additional 948 shares during the period. HB Wealth Management LLC lifted its holdings in Steel Dynamics by 16.5% in the 3rd quarter. HB Wealth Management LLC now owns 2,218 shares of the basic materials company’s stock worth $238,000 after buying an additional 314 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $206,000. Capital Asset Advisory Services LLC increased its stake in shares of Steel Dynamics by 13.5% during the third quarter. Capital Asset Advisory Services LLC now owns 2,140 shares of the basic materials company’s stock valued at $236,000 after buying an additional 254 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Steel Dynamics by 64.1% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 11,436 shares of the basic materials company’s stock valued at $1,226,000 after acquiring an additional 4,465 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STLD shares. Citigroup boosted their price objective on shares of 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 increased their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. 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. Finally, UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. 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. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $121.17.

Steel Dynamics Stock Up 0.4 %

STLD traded up $0.48 during midday trading on Thursday, reaching $130.40. The company’s stock had a trading volume of 306,109 shares, compared to its average volume of 1,187,787. The stock’s 50-day moving average is $136.80 and its 200-day moving average is $121.97. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 8.92 and a beta of 1.42. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.83% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts expect that Steel Dynamics, Inc. will post 11.79 EPS for the current 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 represents a $1.84 annualized dividend and a yield of 1.41%. This is an increase 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 12.64%.

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.