Deutsche Bank AG Acquires 219,787 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Deutsche Bank AG boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 783,849 shares of the basic materials company's stock after purchasing an additional 219,787 shares during the period. Deutsche Bank AG owned about 0.51% of Steel Dynamics worth $89,414,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the 3rd quarter worth about $25,000. IAG Wealth Partners LLC bought a new stake in Steel Dynamics in the fourth quarter worth about $39,000. Avalon Trust Co bought a new stake in Steel Dynamics in the fourth quarter worth about $42,000. Golden State Wealth Management LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $48,000. Finally, Transamerica Financial Advisors Inc. grew its position in shares of Steel Dynamics by 1,400.0% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 450 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 420 shares during the period. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $130.52 on Monday. 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, Inc. has a one year low of $103.17 and a one year high of $155.56. The firm has a market capitalization of $19.56 billion, a P/E ratio of 13.32, a PEG ratio of 1.05 and a beta of 1.44. The business has a fifty day moving average price of $123.59 and a 200-day moving average price of $128.11.

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

Steel Dynamics announced that its Board of Directors 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Steel Dynamics Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 1.53%. Steel Dynamics's dividend payout ratio is currently 26.42%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm'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 of the company's stock, valued at $16,448,593.80. This trade represents a 16.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STLD. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an "overweight" rating in a research note on Thursday, April 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a research note on Monday, March 24th. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and upped their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Finally, StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.44.

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.

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.