KBC Group NV Sells 67,922 Shares of Steel Dynamics, Inc. $STLD

Key Points

• KBC Group NV cut its holding in Steel Dynamics by 12.6% in Q4, selling 67,922 shares and ending the period with 473,045 shares valued at $80.16 million.
• Steel Dynamics beat Q4 EPS expectations ($1.82 vs. $1.72), reported revenue up 14% year-over-year though slightly below estimates, and raised its quarterly dividend to $0.53 (annualized $2.12, ~1.1% yield).
• Institutional investors own 82.41% of the stock; the analyst consensus is a Hold with an average price target of $185.11 (market cap ≈ $28.1B, P/E ≈ 24.2).

KBC Group NV reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,045 shares of the basic materials company's stock after selling 67,922 shares during the quarter. KBC Group NV owned 0.32% of Steel Dynamics worth $80,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Steel Dynamics by 29.0% during the 4th quarter. Farther Finance Advisors LLC now owns 5,981 shares of the basic materials company's stock valued at $1,014,000 after purchasing an additional 1,343 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth approximately $45,000. Choreo LLC raised its stake in shares of Steel Dynamics by 23.9% in the fourth quarter. Choreo LLC now owns 3,123 shares of the basic materials company's stock worth $534,000 after purchasing an additional 602 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock valued at $340,289,000 after purchasing an additional 72,122 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $743,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD opened at $194.11 on Thursday. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.54 and a beta of 1.39. The stock has a 50 day moving average of $185.67 and a 200 day moving average of $171.15. Steel Dynamics, Inc. has a 12 month low of $112.72 and a 12 month high of $208.47.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business's revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a $0.53 dividend. This is an increase from Steel Dynamics's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics's payout ratio is presently 26.47%.

Analyst Ratings Changes

STLD has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Steel Dynamics in a report on Monday, December 29th. Wall Street Zen cut Steel Dynamics from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. KeyCorp initiated coverage on shares of Steel Dynamics in a report on Wednesday, March 25th. They set an "overweight" rating and a $190.00 price objective on the stock. Morgan Stanley reiterated an "underperform" rating and issued a $190.00 target price on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $207.00 target price on shares of Steel Dynamics in a report on Wednesday. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $185.11.

Steel Dynamics Company Profile

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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