OMERS ADMINISTRATION Corp Has $1.87 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

OMERS ADMINISTRATION Corp reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,366 shares of the basic materials company’s stock after selling 5,388 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Steel Dynamics were worth $1,867,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Atomi Financial Group Inc. grew its stake in Steel Dynamics by 5.0% during the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after buying an additional 91 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Steel Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $366,000 after acquiring an additional 101 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in shares of Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company’s stock worth $527,000 after acquiring an additional 101 shares in the last quarter. Center For Asset Management LLC grew its position in Steel Dynamics by 3.6% during the 4th quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 113 shares during the last quarter. Finally, Cidel Asset Management Inc. increased its holdings in Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 118 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $133.80 on Friday. The stock has a 50-day moving average price of $124.43 and a two-hundred day moving average price of $128.23. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The company has a market capitalization of $20.06 billion, a PE ratio of 13.65, a P/E/G ratio of 1.05 and a beta of 1.44. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the company posted $3.67 EPS. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its board has initiated a stock buyback program on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s payout ratio is presently 26.42%.

Analyst Upgrades and Downgrades

STLD has been the topic of several research reports. StockNews.com downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.44.

Steel Dynamics Profile

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.