California State Teachers Retirement System Has $15.29 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

California State Teachers Retirement System decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 427,094 shares of the basic materials company’s stock after selling 51,679 shares during the quarter. California State Teachers Retirement System owned about 0.18% of Steel Dynamics worth $15,294,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in STLD. UBS Asset Management Americas Inc. lifted its position in shares of Steel Dynamics by 51.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 226,946 shares of the basic materials company’s stock worth $7,889,000 after acquiring an additional 76,681 shares during the period. Teachers Advisors LLC raised its holdings in shares of Steel Dynamics by 20.4% in the 1st quarter. Teachers Advisors LLC now owns 1,314,655 shares of the basic materials company’s stock worth $45,697,000 after buying an additional 223,142 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Steel Dynamics by 3.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,193 shares of the basic materials company’s stock worth $839,000 after buying an additional 709 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Steel Dynamics by 40.9% in the 1st quarter. Legal & General Group Plc now owns 270,385 shares of the basic materials company’s stock worth $9,392,000 after buying an additional 78,460 shares in the last quarter. Finally, Ngam Advisors L.P. raised its holdings in shares of Steel Dynamics by 38.7% in the 1st quarter. Ngam Advisors L.P. now owns 15,874 shares of the basic materials company’s stock worth $552,000 after buying an additional 4,428 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

A number of equities research analysts recently weighed in on STLD shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price target (up from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Bank of America Corporation increased their price objective on Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 21st. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research report on Friday, October 20th. Citigroup Inc. reduced their price target on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Finally, Morgan Stanley restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, July 18th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.09.

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Steel Dynamics, Inc. (STLD) traded down 0.57% during mid-day trading on Friday, reaching $38.67. The company had a trading volume of 2,189,566 shares. The firm has a 50-day moving average price of $35.21 and a 200 day moving average price of $35.10. Steel Dynamics, Inc. has a 12-month low of $26.29 and a 12-month high of $40.17. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 17.76 and a beta of 1.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. Steel Dynamics’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Analysts expect that Steel Dynamics, Inc. will post $2.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.60%. Steel Dynamics’s payout ratio is 28.57%.

About Steel Dynamics

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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