Steel Dynamics, Inc. $STLD Shares Sold by UBS Group AG

UBS Group AG trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 30.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 305,333 shares of the basic materials company’s stock after selling 130,604 shares during the period. UBS Group AG’s holdings in Steel Dynamics were worth $51,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 12.1% during the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after purchasing an additional 252,108 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock worth $145,953,000 after purchasing an additional 10,537 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Steel Dynamics by 34.7% during the second quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock worth $131,715,000 after purchasing an additional 264,827 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of Steel Dynamics during the third quarter worth $101,254,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares in the company, valued at $27,578,734.06. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by company insiders.

Steel Dynamics Stock Up 3.3%

Shares of NASDAQ:STLD opened at $237.46 on Wednesday. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $238.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The company’s fifty day moving average is $191.49 and its two-hundred day moving average is $177.85. The stock has a market capitalization of $34.24 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Steel Dynamics’s quarterly revenue was up 19.1% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were given a $0.53 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Steel Dynamics’s dividend payout ratio is 22.67%.

Analyst Ratings Changes

Several research firms have recently issued reports on STLD. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. KeyCorp lifted their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target on the stock. in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $214.30.

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.