Teacher Retirement System of Texas Has $13.12 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Teacher Retirement System of Texas boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,993 shares of the basic materials company’s stock after buying an additional 25,064 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Steel Dynamics worth $13,117,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Xponance Inc. boosted its stake in Steel Dynamics by 78.5% during the fourth quarter. Xponance Inc. now owns 36,184 shares of the basic materials company’s stock worth $4,128,000 after buying an additional 15,914 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in shares of Steel Dynamics by 7.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 128 shares in the last quarter. Cibc World Markets Corp boosted its stake in shares of Steel Dynamics by 287.5% in the 4th quarter. Cibc World Markets Corp now owns 76,932 shares of the basic materials company’s stock valued at $8,776,000 after purchasing an additional 57,079 shares in the last quarter. Avalon Trust Co acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $42,000. Finally, Natixis Advisors LLC boosted its stake in shares of Steel Dynamics by 4.1% in the 4th quarter. Natixis Advisors LLC now owns 38,505 shares of the basic materials company’s stock valued at $4,392,000 after purchasing an additional 1,521 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $122.67 on Friday. The stock has a market capitalization of $18.42 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $128.22 and a two-hundred day moving average price of $128.00.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the firm earned $2.61 EPS. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio is 20.41%.

Steel Dynamics announced that its Board of Directors has approved a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STLD. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Citigroup reduced their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. UBS Group restated a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.56.

Insider Activity

In other news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.