Axa S.A. Has $1.09 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Axa S.A. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,535 shares of the basic materials company's stock after selling 268,158 shares during the period. Axa S.A.'s holdings in Steel Dynamics were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth approximately $28,000. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $39,000. Avalon Trust Co purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Steel Dynamics in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Up 0.7 %

STLD stock opened at $130.52 on Friday. The stock has a market capitalization of $19.56 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. The company has a 50-day moving average of $123.59 and a two-hundred day moving average of $128.13. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter last year, the firm posted $3.67 EPS. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.53%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is currently 26.42%.

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

Analyst Ratings Changes

STLD has been the topic of several research analyst reports. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.44.

Insiders Place Their Bets

In related news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.30% of the company's stock.

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.

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.