Public Employees Retirement System of Ohio Has $8.16 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Public Employees Retirement System of Ohio reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,744 shares of the basic materials company's stock after selling 6,722 shares during the period. Public Employees Retirement System of Ohio's holdings in Steel Dynamics were worth $8,163,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Steel Dynamics in the 2nd quarter valued at approximately $33,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares during the period. Cullen Frost Bankers Inc. boosted its stake 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 buying an additional 100 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics in the 2nd quarter valued at $52,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $61,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded down $4.54 during trading on Friday, reaching $122.37. The company had a trading volume of 1,651,059 shares, compared to its average volume of 1,281,278. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The business's 50 day moving average price is $137.23 and its 200-day moving average price is $128.08. The stock has a market cap of $18.63 billion, a PE ratio of 11.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics's revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.47 EPS. Analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is 16.65%.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 6,650 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last 90 days. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group reiterated a "neutral" rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday. Finally, BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $146.13.

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.