Steel Dynamics, Inc. $STLD Shares Bought by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in Steel Dynamics, Inc. by 2.6% during Q2, holding approximately 264,013 shares valued at $33.86 million.
• Steel Dynamics reported $2.01 EPS for the last quarter, missing estimates of $2.05, with quarterly revenue of $4.57 billion down 1.5% year-over-year.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.4% with a payout ratio of 29.15%.

AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,013 shares of the basic materials company's stock after purchasing an additional 6,652 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.18% of Steel Dynamics worth $33,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bayforest Capital Ltd bought a new stake in shares of Steel Dynamics during the second quarter valued at about $400,000. Alpine Woods Capital Investors LLC raised its stake in shares of Steel Dynamics by 10.4% during the second quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company's stock valued at $6,115,000 after purchasing an additional 4,489 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in shares of Steel Dynamics by 2.6% during the second quarter. Cornerstone Wealth Group LLC now owns 28,048 shares of the basic materials company's stock valued at $3,590,000 after purchasing an additional 705 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of Steel Dynamics by 5.1% during the second quarter. NorthRock Partners LLC now owns 3,217 shares of the basic materials company's stock valued at $413,000 after purchasing an additional 156 shares in the last quarter. Finally, Concord Asset Management LLC VA raised its stake in shares of Steel Dynamics by 7.9% during the second quarter. Concord Asset Management LLC VA now owns 17,934 shares of the basic materials company's stock valued at $2,296,000 after purchasing an additional 1,320 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

NASDAQ STLD opened at $146.98 on Wednesday. The stock's 50-day moving average price is $134.20 and its two-hundred day moving average price is $130.21. 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 company has a market cap of $21.64 billion, a PE ratio of 21.43, a PEG ratio of 1.18 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.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted 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). The company had revenue of $4.57 billion for 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%.Steel Dynamics's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.72 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics's payout ratio is presently 29.15%.

Insider Transactions at Steel Dynamics

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. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Morgan Stanley boosted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.89.

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.

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