Steel Dynamics, Inc. $STLD Holdings Decreased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly reduced its stake in Steel Dynamics, Inc. by 96.3%, leading to ownership of only 682 shares after selling 17,952 shares in Q2.
• Steel Dynamics reported $2.01 EPS for the last quarter, missing estimates, with revenue of $4.57 billion—a 1.5% decline year-over-year.
• The company will pay a quarterly dividend of $0.50 per share on October 10th, representing an annualized dividend yield of 1.5%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 96.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682 shares of the basic materials company's stock after selling 17,952 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Steel Dynamics were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in Steel Dynamics during the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC grew its holdings in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after acquiring an additional 163 shares during the period. Zions Bancorporation National Association UT acquired a new position in Steel Dynamics during the first quarter worth about $32,000. WPG Advisers LLC acquired a new position in Steel Dynamics during the first quarter worth about $32,000. Finally, Grove Bank & Trust grew its holdings in Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after acquiring an additional 183 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD opened at $136.09 on Friday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a 50-day moving average of $130.32 and a two-hundred day moving average of $128.61. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 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 firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the business earned $2.72 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated 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 transaction, the senior vice president owned 66,738 shares of the company's stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Morgan Stanley lifted their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $149.40.

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.

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