KBC Group NV Sells 15,356 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

KBC Group NV lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 703,272 shares of the basic materials company's stock after selling 15,356 shares during the quarter. KBC Group NV owned about 0.46% of Steel Dynamics worth $88,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of STLD. Trustmark National Bank Trust Department lifted its stake in shares of Steel Dynamics by 126.6% in the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company's stock valued at $1,057,000 after purchasing an additional 3,986 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Steel Dynamics by 2,679.3% during the 1st quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company's stock valued at $1,611,000 after buying an additional 10,476 shares in the last quarter. LBP AM SA grew its position in shares of Steel Dynamics by 26.5% in the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company's stock worth $3,256,000 after buying an additional 4,599 shares during the period. M&G Plc bought a new position in shares of Steel Dynamics in the 1st quarter worth about $9,478,000. Finally, UniSuper Management Pty Ltd lifted its position in Steel Dynamics by 372.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company's stock valued at $1,320,000 after acquiring an additional 7,019 shares during the period. 82.41% of the stock is owned by institutional investors.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business'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 of the company's stock, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were 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 owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,591 shares of company stock worth $3,608,438 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded down $4.56 during midday trading on Thursday, hitting $137.34. 676,567 shares of the stock traded hands, compared to its average volume of 1,264,779. The firm has a market capitalization of $20.91 billion, a P/E ratio of 12.84 and a beta of 1.31. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a 50-day moving average of $127.88 and a two-hundred day moving average of $127.01.

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

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.34%. Steel Dynamics's payout ratio is presently 16.65%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on STLD shares. Morgan Stanley cut their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised 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 note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company 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.