Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,840 shares of the basic materials company’s stock after selling 22,490 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of Steel Dynamics worth $28,155,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Signaturefd LLC grew its holdings in shares of Steel Dynamics by 0.9% in the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock valued at $1,263,000 after purchasing an additional 93 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Steel Dynamics by 25.8% in the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 98 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Steel Dynamics by 2.2% in the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock valued at $573,000 after purchasing an additional 103 shares in the last quarter. Greenfield Savings Bank grew its holdings in shares of Steel Dynamics by 0.9% in the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock valued at $1,369,000 after purchasing an additional 108 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in shares of Steel Dynamics by 0.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 44,547 shares of the basic materials company’s stock valued at $4,776,000 after purchasing an additional 113 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD opened at $129.65 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The stock has a market capitalization of $20.48 billion, a P/E ratio of 8.90 and a beta of 1.47. The company’s fifty day moving average is $137.78 and its two-hundred day moving average is $122.83. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.01 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 12.41 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s payout ratio is currently 12.64%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STLD. Citigroup lifted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. UBS Group decreased their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.17.

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.