Steel Dynamics, Inc. $STLD Stock Holdings Raised by Groupama Asset Managment

Key Points

• Groupama Asset Management increased its stake in Steel Dynamics, Inc. by 11.9%, acquiring an additional 3,587 shares worth approximately $4.18 million.
• Steel Dynamics reported a miss in quarterly earnings with $2.01 EPS, falling short of analysts’ expectations of $2.05, alongside a revenue decline of 1.5% year-over-year.
• The company announced a $0.50 quarterly dividend, with an annualized yield of 1.6%, reflecting a 29.15% payout ratio.

Groupama Asset Managment grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,688 shares of the basic materials company's stock after purchasing an additional 3,587 shares during the quarter. Groupama Asset Managment's holdings in Steel Dynamics were worth $4,176,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of 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 valued at $227,211,000 after buying an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Steel Dynamics by 531.0% during the first 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 buying an additional 1,002,813 shares during the period. Nuveen LLC purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $62,470,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Steel Dynamics by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after buying an additional 451,630 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Steel Dynamics by 18,398.4% during the first quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock valued at $55,993,000 after buying an additional 445,241 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction on Friday, June 6th. The shares were 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 $10,971,807.32. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was 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 position. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.

Steel Dynamics Trading Up 5.5%

Shares of STLD stock traded up $6.92 during mid-day trading on Friday, reaching $132.68. The company's stock had a trading volume of 2,463,401 shares, compared to its average volume of 1,260,762. The company's 50 day simple moving average is $129.13 and its 200-day simple moving average is $128.21. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.53 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38.

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

Steel Dynamics Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STLD. Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Morgan Stanley lifted 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. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a research report on Thursday, August 14th. 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. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and a consensus target price 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.