KBC Group NV Sells 25,886 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

KBC Group NV cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 636,855 shares of the basic materials company's stock after selling 25,886 shares during the period. KBC Group NV owned approximately 0.42% of Steel Dynamics worth $79,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Forum Financial Management LP raised its holdings in Steel Dynamics by 2.5% during the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock worth $355,000 after purchasing an additional 75 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Steel Dynamics by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after purchasing an additional 91 shares during the period. Sunbelt Securities Inc. raised its stake in shares of Steel Dynamics by 25.0% in the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock worth $63,000 after buying an additional 100 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in shares of Steel Dynamics by 2.2% in the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock valued at $527,000 after buying an additional 101 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Steel Dynamics by 6.3% during the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock worth $217,000 after acquiring an additional 102 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

STLD stock traded down $3.20 during trading on Monday, reaching $128.01. 1,288,504 shares of the company were exchanged, compared to its average volume of 1,531,007. The company has a market capitalization of $19.00 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The company has a 50-day moving average of $130.23 and a two-hundred day moving average of $125.96. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the prior year, the business posted $3.67 earnings per share. As a group, equities analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's payout ratio is presently 26.42%.

Analyst Ratings Changes

STLD has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley raised their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $148.00.

Insider Transactions at Steel Dynamics

In other news, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director owned 81,812 shares in the company, valued at $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the sale, the senior vice president owned 125,319 shares in the company, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company's stock.

Steel Dynamics Company 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.