Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by DekaBank Deutsche Girozentrale

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

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Steel Dynamics by 3.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,191 shares of the basic materials company's stock worth $1,285,000 after buying an additional 360 shares during the period. Forsta AP Fonden increased its position in shares of Steel Dynamics by 7.5% in the 3rd quarter. Forsta AP Fonden now owns 31,400 shares of the basic materials company's stock valued at $3,959,000 after purchasing an additional 2,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Steel Dynamics by 10.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,252 shares of the basic materials company's stock valued at $1,795,000 after purchasing an additional 1,327 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in shares of Steel Dynamics by 228.9% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 5,295 shares of the basic materials company's stock worth $668,000 after purchasing an additional 3,685 shares during the last quarter. Finally, Financial Partners Group LLC grew its stake in shares of Steel Dynamics by 19.3% during the third quarter. Financial Partners Group LLC now owns 13,269 shares of the basic materials company's stock worth $1,673,000 after purchasing an additional 2,148 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

STLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted 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. BMO Capital Markets upped their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley lowered 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 report on Wednesday, September 18th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $144.29.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 completion of the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value 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. This represents 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.

Steel Dynamics Stock Performance

Shares of STLD traded down $2.39 during mid-day trading on Wednesday, hitting $132.77. 1,135,623 shares of the company's stock were exchanged, compared to its average volume of 1,261,023. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a fifty-two week low of $104.08 and a fifty-two week high of $151.34. The business's 50 day moving average is $122.98 and its two-hundred day moving average is $126.57. The firm has a market capitalization of $20.49 billion, a P/E ratio of 12.23 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 EPS. The company's revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.39%. Steel Dynamics's dividend payout ratio is currently 16.65%.

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.