Banque Cantonale Vaudoise Cuts Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Banque Cantonale Vaudoise lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 31.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,753 shares of the basic materials company's stock after selling 4,499 shares during the quarter. Banque Cantonale Vaudoise's holdings in Steel Dynamics were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in STLD. Innealta Capital LLC acquired a new position in Steel Dynamics in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. grew its holdings in Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock worth $52,000 after purchasing an additional 100 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Steel Dynamics in the second quarter worth $52,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics in the 3rd quarter valued at about $62,000. Institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

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

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $144.04 on Thursday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $21.93 billion, a P/E ratio of 13.04 and a beta of 1.31. The stock's 50-day simple moving average is $130.93 and its two-hundred day simple moving average is $127.30.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.47 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Steel Dynamics's dividend payout ratio is currently 16.65%.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last ninety days. Company insiders own 6.00% of the company's stock.

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.