AEGON ASSET MANAGEMENT UK Plc Sells 4,317 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 85,726 shares of the basic materials company's stock after selling 4,317 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.06% of Steel Dynamics worth $10,804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stiles Financial Services Inc lifted its position in Steel Dynamics by 5.2% in the third quarter. Stiles Financial Services Inc now owns 19,737 shares of the basic materials company's stock valued at $2,489,000 after purchasing an additional 984 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $227,000. Foster & Motley Inc. raised its holdings in shares of Steel Dynamics by 9.4% during the third quarter. Foster & Motley Inc. now owns 32,697 shares of the basic materials company's stock valued at $4,122,000 after acquiring an additional 2,812 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Steel Dynamics by 2.7% during the third quarter. Asset Management One Co. Ltd. now owns 65,516 shares of the basic materials company's stock valued at $8,260,000 after acquiring an additional 1,727 shares in the last quarter. Finally, BSW Wealth Partners bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $317,000. Institutional investors own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STLD. BMO Capital Markets upped their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Stock Up 0.4 %

Shares of NASDAQ STLD traded up $0.60 during trading on Friday, reaching $148.55. The company had a trading volume of 1,073,793 shares, compared to its average volume of 1,351,309. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The stock has a market cap of $22.92 billion, a PE ratio of 13.44 and a beta of 1.31. The business's 50-day moving average is $126.13 and its 200 day moving average is $126.75. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.18 billion. During the same period in the prior year, the firm posted $3.47 earnings per share. The company's quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 10.18 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. Steel Dynamics's dividend payout ratio (DPR) is presently 16.65%.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

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.