Steel Dynamics, Inc. $STLD Shares Sold by Groupama Asset Managment

Key Points

• Groupama Asset Managment cut its stake by 70.4% in Q3, selling 23,733 shares and leaving 9,955 shares in Steel Dynamics worth $1.388 million.
• Steel Dynamics reported Q results with $1.82 EPS (beating the $1.72 consensus) and $4.41 billion in revenue (below expectations) while revenue grew 14% year-over-year.
• The company raised its quarterly dividend to $0.53 (annualized $2.12, yield 1.3%), with an ex-dividend date of March 31 and payment on April 10.

Groupama Asset Managment reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 70.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,955 shares of the basic materials company's stock after selling 23,733 shares during the quarter. Groupama Asset Managment's holdings in Steel Dynamics were worth $1,388,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. Covestor Ltd increased its holdings in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company's stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. CNB Bank purchased a new position in Steel Dynamics in the third quarter valued at about $43,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Steel Dynamics during the third quarter worth about $46,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Price Performance

STLD opened at $167.56 on Friday. The company has a market capitalization of $24.28 billion, a P/E ratio of 20.92, a PEG ratio of 0.46 and a beta of 1.43. The company has a 50-day moving average of $184.79 and a 200-day moving average of $164.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 1.3%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.50. Steel Dynamics's dividend payout ratio (DPR) is 24.97%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Steel Dynamics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 7th. Wells Fargo & Company dropped their target price on Steel Dynamics from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday. Morgan Stanley reissued an "underperform" rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday. KeyCorp reaffirmed an "overweight" rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Hold" and a consensus price target of $182.44.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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