Steel Dynamics, Inc. $STLD Position Reduced by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale reduced its position in Steel Dynamics by 1.9% in Q2, holding 142,906 shares valued at approximately $18.6 million at the end of the quarter.
• Steel Dynamics reported $2.74 EPS for the quarter, exceeding analysts' expectations, with revenue rising 11.2% year-over-year to $4.83 billion.
• The company recently declared a quarterly dividend of $0.50 per share, resulting in a 1.3% yield, and maintains a dividend payout ratio of 29.15%.

DekaBank Deutsche Girozentrale cut its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,906 shares of the basic materials company's stock after selling 2,811 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.10% of Steel Dynamics worth $18,625,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Cidel Asset Management Inc. increased its holdings in shares of Steel Dynamics by 7.1% in the 2nd quarter. Cidel Asset Management Inc. now owns 2,181 shares of the basic materials company's stock valued at $279,000 after purchasing an additional 145 shares during the period. Foster & Motley Inc. raised its stake in shares of Steel Dynamics by 1.3% in the second quarter. Foster & Motley Inc. now owns 36,363 shares of the basic materials company's stock valued at $4,655,000 after purchasing an additional 466 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company's stock valued at $271,238,000 after acquiring an additional 630,935 shares during the period. Praxis Investment Management Inc. lifted its holdings in shares of Steel Dynamics by 58.6% during the second quarter. Praxis Investment Management Inc. now owns 4,900 shares of the basic materials company's stock valued at $627,000 after acquiring an additional 1,810 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company's stock valued at $34,000 after buying an additional 199 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock opened at $148.56 on Thursday. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $156.24. The company has a market cap of $21.87 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.28 and a beta of 1.40. The business has a fifty day simple moving average of $136.91 and a 200 day simple moving average of $131.23.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company earned $2.05 EPS. Steel Dynamics's revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics's dividend payout ratio is currently 29.15%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STLD. Jefferies Financial Group raised their target price on Steel Dynamics from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. UBS Group set a $158.00 target price on Steel Dynamics and gave the company a "buy" rating in a research note on Tuesday. BMO Capital Markets boosted their price target on Steel Dynamics from $155.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Steel Dynamics has an average rating of "Moderate Buy" and a consensus price target of $159.33.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the 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 completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.30% of the company's stock.

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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