ING Groep NV Decreases Position in Steel Dynamics, Inc. (NASDAQ:STLD)

ING Groep NV trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 90.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,824 shares of the basic materials company's stock after selling 193,151 shares during the period. ING Groep NV's holdings in Steel Dynamics were worth $2,459,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Steel Dynamics in the fourth quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Steel Dynamics in the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC boosted its position in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock worth $29,000 after buying an additional 134 shares during the period. Exchange Traded Concepts LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $44,000. Finally, Denali Advisors LLC increased its position in Steel Dynamics by 99.0% in the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity

In other news, SVP Christopher A. Graham sold 21,000 shares of the company's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

STLD has been the topic of a number of recent research reports. Jefferies Financial Group started coverage on shares of Steel Dynamics in a report on Monday. They set a "hold" rating and a $150.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of "Hold" and an average target price of $125.29.

Steel Dynamics Trading Up 1.0 %

STLD traded up $1.27 during trading on Tuesday, hitting $134.35. The company's stock had a trading volume of 772,386 shares, compared to its average volume of 1,174,657. The firm has a market capitalization of $21.11 billion, a P/E ratio of 9.14 and a beta of 1.47. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The stock's fifty day moving average price is $138.79 and its 200-day moving average price is $125.78. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company's quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 12.36 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.37%. Steel Dynamics's payout ratio is 12.64%.

Steel Dynamics Company 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.