DekaBank Deutsche Girozentrale Has $17.81 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

DekaBank Deutsche Girozentrale decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 142,906 shares of the basic materials company’s stock after selling 6,899 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Steel Dynamics were worth $17,805,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI grew its holdings in Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after buying an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after buying an additional 225,832 shares in the last quarter. Swedbank AB bought a new stake in shares of Steel Dynamics in the 1st quarter worth about $32,178,000. Acadian Asset Management LLC grew its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth approximately $24,670,000. 82.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on STLD. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Trading Down 0.4 %

STLD opened at $135.16 on Wednesday. The firm’s fifty day moving average is $122.98 and its two-hundred day moving average is $126.57. The firm has a market cap of $20.86 billion, a PE ratio of 12.23 and a beta of 1.31. Steel Dynamics, Inc. has a twelve month low of $102.86 and a twelve month high of $151.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the business posted $3.47 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is currently 16.65%.

Insider Activity

In related news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

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.