Steel Dynamics, Inc. $STLD Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets has reduced its stake in Steel Dynamics, Inc. by 7.1%, now holding 286,450 shares worth approximately $35.8 million.
• Steel Dynamics reported a Q2 EPS of $2.01, missing analysts' estimates, with revenue of $4.57 billion, down 1.5% year-over-year.
• The company has announced a quarterly dividend of $0.50 per share, yielding around 1.5%, to be paid on October 10th.

BNP Paribas Financial Markets trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,450 shares of the basic materials company's stock after selling 21,747 shares during the period. BNP Paribas Financial Markets owned about 0.19% of Steel Dynamics worth $35,829,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of STLD. Financial Gravity Asset Management Inc. purchased a new position in shares of Steel Dynamics during the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Steel Dynamics in the 1st quarter worth approximately $32,000. Grove Bank & Trust grew its stake in Steel Dynamics by 194.7% in the 1st 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. Finally, Wayfinding Financial LLC purchased a new stake in Steel Dynamics in the 1st quarter worth approximately $36,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the transaction, the director owned 81,812 shares in the company, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.

Steel Dynamics Stock Up 1.0%

Shares of NASDAQ:STLD traded up $1.27 during midday trading on Thursday, hitting $130.86. 947,006 shares of the company's stock traded hands, compared to its average volume of 1,593,746. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The company has a market cap of $19.26 billion, a PE ratio of 19.08, a P/E/G ratio of 1.06 and a beta of 1.40. The firm's fifty day moving average price is $129.41 and its two-hundred day moving average price is $128.18. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

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

Steel Dynamics Announces Dividend

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

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Wells Fargo & Company raised shares of Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, 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. One equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.70.

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.