Amundi Boosts Stock Position in Steel Dynamics, Inc. $STLD

Amundi boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 36.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,826 shares of the basic materials company's stock after buying an additional 87,926 shares during the period. Amundi owned approximately 0.23% of Steel Dynamics worth $59,729,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics during the 4th quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in Steel Dynamics during the 4th quarter valued at about $27,000. Sound Income Strategies LLC raised its holdings in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock worth $28,000 after buying an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new position in Steel Dynamics in the first quarter worth about $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. BMO Capital Markets upped their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Finally, Bank of America reduced their target price on Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $249.00.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company's stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company's stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $251.26 on Monday. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $248.64 and a 200-day moving average price of $214.32. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The firm has a market capitalization of $36.01 billion, a PE ratio of 22.78, a P/E/G ratio of 0.47 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm had revenue of $6.09 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same period in the prior year, the firm earned $2.01 EPS. The company's revenue was up 33.4% compared to the same quarter last year. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 19.22%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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