BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 22,503 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 31.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,038 shares of the basic materials company's stock after selling 22,503 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Steel Dynamics were worth $6,183,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of STLD. Commerce Bank raised its position in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after purchasing an additional 73 shares in the last quarter. Csenge Advisory Group raised its position in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company's stock valued at $381,000 after purchasing an additional 81 shares in the last quarter. Covestor Ltd raised its position in Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company's stock valued at $120,000 after purchasing an additional 93 shares in the last quarter. Dorsey Wright & Associates raised its position in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company's stock valued at $3,050,000 after purchasing an additional 96 shares in the last quarter. Finally, Greenleaf Trust raised its position in Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company's stock valued at $583,000 after purchasing an additional 96 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Chad Bickford sold 2,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,591 shares of company stock worth $3,885,938. Company insiders own 6.00% of the company's stock.

Steel Dynamics Trading Up 1.0 %

Shares of Steel Dynamics stock traded up $1.41 during trading on Monday, hitting $144.98. The company's stock had a trading volume of 1,928,245 shares, compared to its average volume of 1,280,509. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 13.12 and a beta of 1.31. The stock has a 50-day moving average price of $132.92 and a two-hundred day moving average price of $127.51.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 earnings per share. Equities research 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.27%. Steel Dynamics's dividend payout ratio is currently 16.65%.

Analyst Ratings Changes

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

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.