Ontario Teachers Pension Plan Board Sells 9,796 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ontario Teachers Pension Plan Board lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 51.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,145 shares of the basic materials company's stock after selling 9,796 shares during the period. Ontario Teachers Pension Plan Board's holdings in Steel Dynamics were worth $1,153,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Steel Dynamics in the 2nd quarter valued at about $41,000. Cullen Frost Bankers Inc. raised its holdings in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock worth $52,000 after purchasing an additional 100 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $52,000. Finally, Quest Partners LLC acquired a new stake in shares of Steel Dynamics during the third quarter worth $62,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and upped their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets raised their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $144.29.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company's stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last ninety days. Corporate insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

NASDAQ:STLD traded up $0.99 during mid-day trading on Thursday, hitting $145.03. The company's stock had a trading volume of 322,023 shares, compared to its average volume of 1,269,622. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $130.93 and a 200-day moving average of $127.30. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 13.04 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the firm earned $3.47 EPS. Steel Dynamics's quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.27%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is currently 16.65%.

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.