BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Position in Steel Dynamics, Inc. (NASDAQ:STLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 31.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,038 shares of the basic materials company’s stock after selling 22,503 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Steel Dynamics were worth $6,183,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Steel Dynamics during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Steel Dynamics in the second quarter valued at $41,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 100 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at approximately $52,000. Finally, Quest Partners LLC bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $62,000. Institutional investors own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,591 shares of company stock worth $3,885,938. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on STLD shares. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of 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 lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Four 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 currently has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $143.57 on Monday. The company’s 50 day moving average is $132.24 and its 200 day moving average is $127.44. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 12.99 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $3.47 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

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.