Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Groupama Asset Managment

Groupama Asset Managment lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 39.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,101 shares of the basic materials company's stock after selling 19,693 shares during the quarter. Groupama Asset Managment's holdings in Steel Dynamics were worth $3,425,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics during the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the 4th quarter valued at about $28,000. IAG Wealth Partners LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $39,000. Avalon Trust Co bought a new stake in shares of Steel Dynamics during the fourth quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at about $48,000. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

Steel Dynamics stock traded down $11.30 during trading hours on Thursday, hitting $116.06. The stock had a trading volume of 1,878,194 shares, compared to its average volume of 1,461,271. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock's fifty day moving average is $128.40 and its two-hundred day moving average is $128.88.

Remove Ads

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the company posted $2.61 EPS. As a group, analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has initiated a share buyback program on Monday, February 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.72%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio (DPR) is presently 20.41%.

Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

STLD has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. Finally, Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.67.

Steel Dynamics 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.