Altshuler Shaham Ltd Sells 172 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Altshuler Shaham Ltd decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 31.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369 shares of the basic materials company’s stock after selling 172 shares during the period. Altshuler Shaham Ltd’s holdings in Steel Dynamics were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of STLD. Independent Advisor Alliance bought a new position in Steel Dynamics during the third quarter valued at $233,000. Mackenzie Financial Corp grew its holdings in shares of Steel Dynamics by 17.7% in the third quarter. Mackenzie Financial Corp now owns 77,053 shares of the basic materials company’s stock worth $8,184,000 after purchasing an additional 11,609 shares during the last quarter. Advisor Partners II LLC grew its holdings in shares of Steel Dynamics by 5.2% in the third quarter. Advisor Partners II LLC now owns 5,844 shares of the basic materials company’s stock worth $627,000 after purchasing an additional 291 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Steel Dynamics in the third quarter worth about $331,000. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Steel Dynamics by 1.5% in the third quarter. AustralianSuper Pty Ltd now owns 455,220 shares of the basic materials company’s stock worth $48,809,000 after purchasing an additional 6,532 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. UBS Group cut their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. upped their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.17.

Steel Dynamics Stock Down 1.4 %

NASDAQ:STLD traded down $1.89 during mid-day trading on Wednesday, reaching $130.82. The company’s stock had a trading volume of 1,147,923 shares, compared to its average volume of 1,201,802. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The stock has a fifty day moving average of $138.21 and a 200-day moving average of $123.92. The firm has a market capitalization of $20.66 billion, a PE ratio of 8.98 and a beta of 1.47. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm earned $4.01 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.