DekaBank Deutsche Girozentrale Trims Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

DekaBank Deutsche Girozentrale trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,906 shares of the basic materials company's stock after selling 6,899 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.09% of Steel Dynamics worth $17,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Steel Dynamics during the 1st quarter worth about $25,000. Innealta Capital LLC acquired a new stake in Steel Dynamics during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics during the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. lifted 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 valued at $52,000 after acquiring an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STLD. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and raised their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley reduced their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Four 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, the company has an average rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD traded up $0.61 during trading on Wednesday, reaching $135.77. The stock had a trading volume of 62,394 shares, compared to its average volume of 1,255,719. 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 business has a fifty day moving average price of $122.98 and a 200-day moving average price of $126.57. The stock has a market cap of $20.95 billion, a PE ratio of 12.23 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $104.08 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm's revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.47 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.36%. Steel Dynamics's dividend payout ratio is presently 16.65%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is 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.