Steel Dynamics, Inc. $STLD Position Boosted by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Steel Dynamics, Inc. by 96.3%, acquiring an additional 26,100 shares, bringing their total holdings to 53,200 shares valued at $6.81 million.
• Steel Dynamics reported a Q2 EPS of $2.01, missing the consensus estimate by $0.04, and experienced a 1.5% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.50 per share with a dividend yield of 1.4%, set to be paid on October 10th.

Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 96.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 53,200 shares of the basic materials company's stock after acquiring an additional 26,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Steel Dynamics were worth $6,810,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of STLD. Ritholtz Wealth Management lifted its position in shares of Steel Dynamics by 24.4% in the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Steel Dynamics by 10.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock worth $190,000 after acquiring an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Steel Dynamics by 31.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after buying an additional 6,604 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Steel Dynamics by 124.1% in the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company's stock valued at $119,000 after purchasing an additional 525 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Steel Dynamics by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company's stock valued at $2,074,000 after acquiring an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Trading Down 0.4%

Shares of Steel Dynamics stock traded down $0.57 during trading hours on Friday, reaching $139.27. The stock had a trading volume of 2,810,449 shares, compared to its average volume of 1,187,503. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.13 and a beta of 1.40. 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 50 day simple moving average of $129.77 and a two-hundred day simple moving average of $128.27.

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

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's payout ratio is presently 29.15%.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company upped their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.40.

Insider Buying and Selling at Steel Dynamics

In related news, 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 transaction of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.30% of the company's stock.

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.