Steel Dynamics, Inc. $STLD Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.7% in the 2nd quarter, Holdings Channel reports. The fund owned 80,918 shares of the basic materials company’s stock after selling 5,854 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Steel Dynamics were worth $10,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of STLD. Generali Investments Management Co LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at approximately $88,000. Rockefeller Capital Management L.P. boosted its stake in Steel Dynamics by 11.2% during the second quarter. Rockefeller Capital Management L.P. now owns 21,695 shares of the basic materials company’s stock worth $2,777,000 after buying an additional 2,181 shares during the last quarter. Intech Investment Management LLC grew its holdings in Steel Dynamics by 663.6% in the 2nd quarter. Intech Investment Management LLC now owns 38,050 shares of the basic materials company’s stock valued at $4,871,000 after buying an additional 33,067 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Steel Dynamics by 4.0% in the 2nd quarter. Cetera Investment Advisers now owns 21,800 shares of the basic materials company’s stock worth $2,791,000 after acquiring an additional 843 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Steel Dynamics by 5.5% during the 2nd quarter. Creative Planning now owns 31,598 shares of the basic materials company’s stock worth $4,045,000 after acquiring an additional 1,648 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of STLD opened at $155.46 on Thursday. The firm has a 50-day simple moving average of $146.93 and a two-hundred day simple moving average of $136.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $164.73. The stock has a market cap of $22.70 billion, a PE ratio of 20.59, a P/E/G ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STLD. KeyCorp upped their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Jefferies Financial Group lifted their price target on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Citigroup upped their price objective on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and an average price target of $170.44.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

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.