DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Decreases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 90.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,641 shares of the basic materials company's stock after selling 211,791 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Steel Dynamics were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of STLD. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $28,000. IAG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $39,000. Avalon Trust Co acquired a new position in Steel Dynamics during the 4th quarter worth about $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $48,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

NASDAQ STLD traded down $1.70 during mid-day trading on Wednesday, hitting $133.72. The stock had a trading volume of 1,116,734 shares, compared to its average volume of 1,507,799. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $123.97 and a 200 day simple moving average of $128.21. The company has a market cap of $20.04 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 1.05 and a beta of 1.44.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. During the same period in the prior year, the company earned $3.67 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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 given a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. Steel Dynamics's dividend payout ratio is presently 26.42%.

Analysts Set New Price Targets

Several research firms recently issued reports on STLD. UBS Group raised 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. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wolfe Research upgraded shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. StockNews.com downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an "overweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently 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.