Caisse DE Depot ET Placement DU Quebec Sells 35,527 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Caisse DE Depot ET Placement DU Quebec trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned about 0.54% of Steel Dynamics worth $103,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by company insiders.

Steel Dynamics Trading Up 1.0 %

Shares of Steel Dynamics stock opened at $145.27 on Friday. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a market cap of $22.12 billion, a PE ratio of 13.15 and a beta of 1.31. The firm has a fifty day moving average price of $135.06 and a 200 day moving average price of $127.87.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 EPS. Equities research analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $144.29.

About Steel Dynamics

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.