Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,899 shares of the basic materials company’s stock after selling 768 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Steel Dynamics were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. CVA Family Office LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC raised its holdings in shares of Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the period. Wellington Shields & Co. LLC lifted its stake in Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, Clearstead Advisors LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at about $35,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $136.90 on Monday. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The firm has a market capitalization of $21.62 billion, a PE ratio of 9.38 and a beta of 1.42. The business’s fifty day moving average price is $136.21 and its 200 day moving average price is $121.58.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. Steel Dynamics’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on STLD. BMO Capital Markets boosted 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. UBS Group dropped their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $121.17.

Check Out Our Latest Analysis on Steel Dynamics

About Steel Dynamics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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