Baader Bank Aktiengesellschaft Purchases Shares of 6,157 Steel Dynamics, Inc. $STLD

Key Points

• Baader Bank opened a new position in Steel Dynamics, buying 6,157 shares valued at about $1.0 million in the fourth quarter.
• Analyst sentiment remains mixed: several firms raised price targets, but Bank of America downgraded the stock to neutral. The consensus rating is Hold with an average target price of $214.30.
• Steel Dynamics reported mixed quarterly results, missing EPS and revenue estimates by a small amount, while still posting 19.1% revenue growth year over year. The company also announced a $0.53 quarterly dividend, payable July 10.

Baader Bank Aktiengesellschaft acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,157 shares of the basic materials company's stock, valued at approximately $1,043,000.

A number of other hedge funds also recently made changes to their positions in the stock. Ameritas Advisory Services LLC lifted its holdings in shares of Steel Dynamics by 5.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 1,747 shares of the basic materials company's stock worth $296,000 after acquiring an additional 86 shares during the last quarter. World Investment Advisors bought a new stake in shares of Steel Dynamics during the 4th quarter worth $291,000. Versor Investments LP bought a new stake in shares of Steel Dynamics during the 4th quarter worth $241,000. Bailard Inc. lifted its holdings in shares of Steel Dynamics by 0.9% during the 4th quarter. Bailard Inc. now owns 102,031 shares of the basic materials company's stock worth $17,289,000 after acquiring an additional 865 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of Steel Dynamics during the 4th quarter worth $2,488,000. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

STLD has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Bank of America downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective for the company. in a report on Thursday, April 30th. KeyCorp lifted their price objective on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $214.30.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,125 shares of company stock worth $2,751,227 over the last quarter. Company insiders own 6.60% of the company's stock.

Steel Dynamics Price Performance

STLD stock opened at $234.68 on Friday. The firm's 50-day moving average price is $197.24 and its two-hundred day moving average price is $182.16. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $243.73. The stock has a market capitalization of $33.96 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 0.50 and a beta of 1.48. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. Steel Dynamics's quarterly revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts predict that Steel Dynamics, Inc. will post 14.77 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, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics's dividend payout ratio is 22.67%.

About Steel Dynamics

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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