Teachers Retirement System of The State of Kentucky Boosts Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Teachers Retirement System of The State of Kentucky lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,688 shares of the basic materials company’s stock after purchasing an additional 26,260 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Steel Dynamics were worth $5,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Steel Dynamics by 9.1% in the 2nd quarter. BlackRock Inc. now owns 26,941,770 shares of the basic materials company’s stock worth $1,605,728,000 after buying an additional 2,253,932 shares in the last quarter. Vanguard Group Inc. increased its holdings in Steel Dynamics by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 21,591,653 shares of the basic materials company’s stock worth $1,286,861,000 after buying an additional 1,711,312 shares in the last quarter. State Street Corp increased its holdings in Steel Dynamics by 0.9% in the 2nd quarter. State Street Corp now owns 9,263,692 shares of the basic materials company’s stock worth $554,495,000 after buying an additional 83,186 shares in the last quarter. FMR LLC increased its holdings in Steel Dynamics by 125.1% in the 2nd quarter. FMR LLC now owns 7,120,593 shares of the basic materials company’s stock worth $424,387,000 after buying an additional 3,957,441 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Steel Dynamics by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,990,674 shares of the basic materials company’s stock worth $178,123,000 after buying an additional 89,180 shares in the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Miguel Alvarez sold 8,220 shares of the company’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $67.60, for a total transaction of $555,672.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.20% of the company’s stock.

A number of analysts have commented on STLD shares. Morgan Stanley cut shares of Steel Dynamics from an “overweight” rating to an “equal weight” rating and set a $62.00 target price for the company. in a report on Monday, October 18th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Monday, December 6th. The Goldman Sachs Group reduced their target price on shares of Steel Dynamics from $87.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, October 6th. Finally, Wolfe Research cut shares of Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 target price on the stock. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.00.

Shares of STLD stock opened at $62.82 on Friday. Steel Dynamics, Inc. has a 1 year low of $33.77 and a 1 year high of $74.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.91 and a quick ratio of 1.51. The stock’s 50 day simple moving average is $62.68 and its two-hundred day simple moving average is $63.13. The company has a market cap of $12.47 billion, a PE ratio of 5.66 and a beta of 1.49.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Sunday, October 17th. The basic materials company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.49. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Steel Dynamics had a return on equity of 50.02% and a net margin of 14.72%. The company’s quarterly revenue was up 118.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 16.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Friday, December 31st will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, December 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.66%. Steel Dynamics’s dividend payout ratio is 9.38%.

Steel Dynamics Profile

Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.

Read More: How Short Selling Works

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD).

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

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.