Deutsche Bank AG Sells 26,271 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Deutsche Bank AG cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 757,578 shares of the basic materials company's stock after selling 26,271 shares during the period. Deutsche Bank AG owned approximately 0.51% of Steel Dynamics worth $94,758,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Forum Financial Management LP increased its stake in shares of Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after buying an additional 75 shares during the period. Hemington Wealth Management increased its stake in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock valued at $39,000 after buying an additional 84 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after buying an additional 91 shares during the period. Sunbelt Securities Inc. increased its position in Steel Dynamics by 25.0% during the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock valued at $63,000 after purchasing an additional 100 shares during the period. Finally, Parallel Advisors LLC increased its position in Steel Dynamics by 6.3% during the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after purchasing an additional 102 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 1.4%

Shares of STLD stock traded down $1.77 during trading hours on Thursday, hitting $127.47. 756,479 shares of the company were exchanged, compared to its average volume of 1,628,214. The firm has a market cap of $18.76 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.02 and a beta of 1.38. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The company has a 50 day simple moving average of $129.86 and a two-hundred day simple moving average of $128.21.

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

Insider Buying and Selling

In related news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction on 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 directly owned 81,812 shares in the company, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value 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 trade represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,749 shares of company stock worth $2,702,468 in the last ninety days. Corporate insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STLD. JPMorgan Chase & Co. increased their target price on shares of 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 downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Wells Fargo & Company began coverage on shares of Steel Dynamics in a research report on Wednesday. They set an "overweight" rating and a $143.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $148.70.

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.