Amundi Sells 10,951 Shares of Steel Dynamics, Inc. $STLD

Amundi decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,169 shares of the basic materials company's stock after selling 10,951 shares during the quarter. Amundi owned approximately 0.23% of Steel Dynamics worth $39,944,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STLD. Victory Capital Management Inc. grew its stake in shares of Steel Dynamics by 433.1% in the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock worth $227,211,000 after purchasing an additional 1,475,767 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Steel Dynamics by 531.0% in the first 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 purchasing an additional 1,002,813 shares during the last quarter. Nuveen LLC bought a new stake in shares of Steel Dynamics in the first quarter worth $62,470,000. Finally, GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 445,241 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

STLD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company upgraded shares of Steel Dynamics to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Morgan Stanley boosted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.70.

Steel Dynamics Price Performance

STLD stock opened at $134.63 on Monday. The company's fifty day simple moving average is $129.47 and its 200 day simple moving average is $128.01. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.09 and a beta of 1.40. 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 (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data 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). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $2.72 EPS. Steel Dynamics's revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Steel Dynamics's dividend payout ratio is currently 29.15%.

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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