Erste Asset Management GmbH Has $963,000 Stake in Steel Dynamics, Inc. $STLD

Erste Asset Management GmbH grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 196.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,626 shares of the basic materials company’s stock after buying an additional 3,726 shares during the period. Erste Asset Management GmbH’s holdings in Steel Dynamics were worth $963,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Optas LLC increased its stake in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock valued at $335,000 after buying an additional 58 shares during the period. Wright Investors Service Inc. increased its stake in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after buying an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Steel Dynamics by 4.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after buying an additional 70 shares during the period. Root Financial Partners LLC boosted its holdings in Steel Dynamics by 22.2% in the fourth quarter. Root Financial Partners LLC now owns 424 shares of the basic materials company’s stock valued at $72,000 after acquiring an additional 77 shares during the last quarter. Finally, Choreo LLC boosted its holdings in Steel Dynamics by 3.3% in the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock valued at $353,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STLD. KeyCorp upped their target price on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. Finally, Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price on the stock. in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.64.

View Our Latest Analysis on STLD

Steel Dynamics Trading Down 0.5%

Shares of Steel Dynamics stock opened at $268.34 on Thursday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $280.49. The stock has a fifty day moving average price of $226.75 and a 200-day moving average price of $195.23. The firm has a market cap of $38.83 billion, a PE ratio of 28.70, a P/E/G ratio of 0.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,125 shares of company stock valued at $5,438,227. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Company Profile

(Free Report)

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

Further Reading

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

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