Steel Dynamics, Inc. (STLD) Holdings Cut by California State Teachers Retirement System

California State Teachers Retirement System lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 386,957 shares of the basic materials company’s stock after selling 6,429 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Steel Dynamics worth $16,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Lazard Asset Management LLC boosted its position in Steel Dynamics by 348.9% during the fourth quarter. Lazard Asset Management LLC now owns 6,556,430 shares of the basic materials company’s stock worth $282,777,000 after purchasing an additional 5,096,015 shares in the last quarter. Prudential Financial Inc. boosted its position in Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Steel Dynamics by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 4,212,248 shares of the basic materials company’s stock worth $145,199,000 after purchasing an additional 247,077 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Steel Dynamics by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 3,278,380 shares of the basic materials company’s stock worth $141,398,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Steel Dynamics by 2.3% during the third quarter. Van ECK Associates Corp now owns 2,816,748 shares of the basic materials company’s stock worth $97,093,000 after purchasing an additional 63,983 shares in the last quarter. Institutional investors own 85.42% of the company’s stock.

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A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Credit Suisse Group increased their price target on Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Cowen set a $60.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, BidaskClub upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $47.64.

Steel Dynamics stock opened at $46.40 on Thursday. The firm has a market capitalization of $10,786.10, a P/E ratio of 13.77, a PEG ratio of 0.90 and a beta of 1.27. Steel Dynamics, Inc. has a 1 year low of $32.15 and a 1 year high of $50.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. Steel Dynamics had a return on equity of 21.48% and a net margin of 8.52%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.17 billion. sell-side analysts expect that Steel Dynamics, Inc. will post 4.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be given a dividend of $0.1875 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.75 dividend on an annualized basis and a yield of 1.62%. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.40%.

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Steel Dynamics Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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