Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 820,925 shares of the basic materials company’s stock after selling 35,527 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Steel Dynamics were worth $103,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STLD. Commerce Bank lifted its stake in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 73 shares in the last quarter. Csenge Advisory Group lifted its position in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after buying an additional 81 shares in the last quarter. Covestor Ltd boosted its stake in Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the last quarter. Dorsey Wright & Associates increased its stake in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after acquiring an additional 96 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after buying an additional 96 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock valued at $3,885,938 over the last 90 days. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $145.27 on Friday. The company’s 50 day moving average is $135.06 and its two-hundred day moving average is $127.87. The firm has a market cap of $22.12 billion, a PE ratio of 13.15 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business posted $3.47 earnings per share. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. On average, research analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. Steel Dynamics’s payout ratio is 16.65%.

Analyst Ratings Changes

A number of research firms recently commented on STLD. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley lowered their price target 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. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Company 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.