Steel Dynamics, Inc. $STLD Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. sold 42,648 shares of Steel Dynamics, Inc., reducing its stake by 74.0%, leaving it with 15,023 shares valued at $1,879,000.
• Steel Dynamics reported a miss in quarterly earnings with an EPS of $2.01, falling short of analysts' expectations of $2.05.
• The company announced a quarterly dividend of $0.50 per share, representing an annual yield of 1.5%.

Candriam S.C.A. trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 74.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,023 shares of the basic materials company's stock after selling 42,648 shares during the period. Candriam S.C.A.'s holdings in Steel Dynamics were worth $1,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings 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 worth $227,211,000 after buying an additional 1,475,767 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Steel Dynamics by 17.1% during the 4th quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company's stock worth $202,507,000 after acquiring an additional 259,361 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Steel Dynamics by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company's stock valued at $175,821,000 after acquiring an additional 30,759 shares during the period. Robeco Institutional Asset Management B.V. increased its stake 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 valued at $149,054,000 after purchasing an additional 1,002,813 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Steel Dynamics by 7.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,152,812 shares of the basic materials company's stock worth $131,501,000 after purchasing an additional 84,716 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Down 0.9%

Steel Dynamics stock traded down $1.13 during mid-day trading on Thursday, hitting $131.57. The company's stock had a trading volume of 394,239 shares, compared to its average volume of 1,604,675. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.37 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.06 and a beta of 1.38. The stock's fifty day moving average is $129.17 and its two-hundred day moving average is $128.30.

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

Steel Dynamics Announces Dividend

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

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.