Allianz SE Grows Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Allianz SE has increased its stake in Steel Dynamics, Inc. by 138.1% during the first quarter, now owning 7,500 shares valued at $938,000.
• Other large investors, including Victory Capital Management and Robeco Institutional Asset Management, have also significantly increased their stakes in Steel Dynamics, indicating strong institutional interest.
• Steel Dynamics reported earnings per share of $2.01 for the latest quarter, missing estimates, with revenue down 1.5% year-over-year.

Allianz SE boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 138.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the basic materials company's stock after purchasing an additional 4,350 shares during the quarter. Allianz SE's holdings in Steel Dynamics were worth $938,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in STLD. Victory Capital Management Inc. raised its stake in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after purchasing an additional 1,475,767 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Steel Dynamics by 531.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock worth $149,054,000 after buying an additional 1,002,813 shares during the last quarter. Capital Research Global Investors raised its position in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock valued at $409,816,000 after buying an additional 815,629 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after acquiring an additional 451,630 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Steel Dynamics by 18,398.4% in the first quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock worth $55,993,000 after acquiring an additional 445,241 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,749 shares of company stock worth $2,702,468 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.33.

Steel Dynamics Price Performance

STLD opened at $122.37 on Monday. The business has a fifty day moving average of $130.79 and a 200 day moving average of $128.28. The stock has a market cap of $18.17 billion, a P/E ratio of 17.84, a PEG ratio of 0.99 and a beta of 1.38. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.72 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics 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.

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