DekaBank Deutsche Girozentrale Sells 2,811 Shares of Steel Dynamics, Inc. $STLD

DekaBank Deutsche Girozentrale cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 142,906 shares of the basic materials company’s stock after selling 2,811 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Steel Dynamics were worth $18,625,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics in the second quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Trading Down 3.4%

Shares of Steel Dynamics stock opened at $148.56 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $156.24. The stock has a 50 day moving average price of $136.91 and a two-hundred day moving average price of $131.23. The stock has a market capitalization of $21.87 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 29.15%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STLD shares. Jefferies Financial Group increased their price target on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group set a $158.00 price target on Steel Dynamics and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets increased their price target on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $159.33.

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.