Amalgamated Bank Sells 16,107 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Amalgamated Bank reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 44,631 shares of the basic materials company’s stock after selling 16,107 shares during the period. Amalgamated Bank’s holdings in Steel Dynamics were worth $5,271,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at about $29,000. Lindbrook Capital LLC lifted its position in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Steel Dynamics during the fourth quarter worth about $44,000. Finally, Denali Advisors LLC grew its position in Steel Dynamics by 99.0% in the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on STLD. Citigroup lifted their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. UBS Group reduced their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $132.60 on Tuesday. The firm has a market capitalization of $20.94 billion, a P/E ratio of 9.11 and a beta of 1.47. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The business has a fifty day moving average price of $138.25 and a 200-day moving average price of $123.64.

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

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.