Assenagon Asset Management S.A. Has $3.13 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Assenagon Asset Management S.A. grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 14.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,025 shares of the basic materials company's stock after buying an additional 3,216 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Steel Dynamics were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $39,000. Investment Management Corp VA ADV bought a new position in shares of Steel Dynamics in the fourth quarter valued at about $40,000. Avalon Trust Co bought a new position in shares of Steel Dynamics in the fourth quarter valued at about $42,000. Park Square Financial Group LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $45,000. Finally, Sunbelt Securities Inc. grew its holdings in Steel Dynamics by 100.0% during the 4th quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company's stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

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

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Wolfe Research upgraded shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $147.44.

Steel Dynamics Trading Down 2.3%

Shares of Steel Dynamics stock traded down $3.05 during trading on Thursday, hitting $130.11. 1,927,309 shares of the company were exchanged, compared to its average volume of 1,538,353. The firm's fifty day moving average price is $128.74 and its 200 day moving average price is $126.54. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The firm has a market capitalization of $19.31 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 0.94 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.

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

Steel Dynamics announced that its Board of Directors has authorized a stock repurchase program on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Steel Dynamics's dividend payout ratio (DPR) is 26.42%.

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.