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

Caisse de depot et placement du Quebec cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 40.9% in the 2nd quarter, HoldingsChannel reports. 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’s holdings in Steel Dynamics were worth $103,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLD. Strs Ohio lifted its position in shares of Steel Dynamics by 7.3% during the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after acquiring an additional 10,519 shares during the last quarter. Canada Post Corp Registered Pension Plan grew its holdings in shares of Steel Dynamics by 70.5% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock worth $1,981,000 after acquiring an additional 4,835 shares during the last quarter. Ethic Inc. grew its holdings in shares of Steel Dynamics by 56.5% in the 4th quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock worth $3,143,000 after acquiring an additional 6,695 shares during the last quarter. Sapient Capital LLC raised its position in shares of Steel Dynamics by 34.6% during the second quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock worth $102,958,000 after purchasing an additional 115,080 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Steel Dynamics by 53.2% during the fourth quarter. Sanctuary Advisors LLC now owns 30,920 shares of the basic materials company’s stock worth $5,239,000 after purchasing an additional 10,736 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STLD shares. UBS Group increased their price target on Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Wells Fargo & Company decreased their target price on shares of Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $257.27.

Steel Dynamics Price Performance

STLD opened at $235.90 on Thursday. The firm has a market capitalization of $33.81 billion, a P/E ratio of 21.39, a PEG ratio of 0.44 and a beta of 1.52. The stock has a fifty day moving average of $242.65 and a 200-day moving average of $223.31. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 12-month low of $126.88 and a 12-month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

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

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.