B. Metzler seel. Sohn & Co. AG Has $666,000 Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• B. Metzler seel. Sohn & Co. AG has reduced its holdings in Steel Dynamics, Inc. by 66.8%, now owning 5,323 shares valued at approximately $666,000.
• Steel Dynamics has declared a quarterly dividend of $0.50 per share, with a dividend yield of 1.5%, to be paid on October 10th.
• The company reported earnings of $2.01 per share, missing analysts' estimates, with revenue of $4.57 billion, a 1.5% decline from the previous year.

B. Metzler seel. Sohn & Co. AG lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 66.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,323 shares of the basic materials company's stock after selling 10,709 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Steel Dynamics were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC lifted its position in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Steel Dynamics in the first quarter worth $25,000. Zions Bancorporation National Association UT purchased a new position in Steel Dynamics in the first quarter worth $32,000. Grove Bank & Trust raised its position in Steel Dynamics by 194.7% in 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Steel Dynamics in the first quarter worth $36,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's 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 sale, the director directly owned 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.

Analyst Ratings Changes

Several analysts have commented on STLD shares. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company upgraded Steel Dynamics to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Morgan Stanley upped their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $148.70.

Steel Dynamics Stock Up 0.3%

NASDAQ:STLD traded up $0.35 during trading hours on Thursday, hitting $129.94. 399,250 shares of the stock traded hands, compared to its average volume of 1,590,370. The firm has a 50 day moving average price of $129.41 and a 200 day moving average price of $128.18. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The firm has a market cap of $19.13 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.06 and a beta of 1.40.

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

Steel Dynamics Announces Dividend

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

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.