UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $245.90 Million Stake in Steel Dynamics, Inc. $STLD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,071,630 shares of the basic materials company’s stock after selling 148,357 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Steel Dynamics were worth $245,896,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of STLD. BlackRock Inc. acquired a new position in Steel Dynamics during the second quarter valued at approximately $2,844,501,000. Life Cycle Investment Partners Ltd acquired a new stake in Steel Dynamics in the fourth quarter worth $586,702,000. Norges Bank acquired a new stake in Steel Dynamics in the fourth quarter worth $564,590,000. Bank of America Corp DE bought a new position in shares of Steel Dynamics during the second quarter worth $264,212,000. Finally, Boston Partners boosted its position in shares of Steel Dynamics by 147.9% during the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock worth $303,970,000 after purchasing an additional 1,070,042 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on STLD. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective for the company. Bank of America reduced their target price on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, Wells Fargo & Company dropped their price target on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, August 24th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.27.

Steel Dynamics Price Performance

STLD stock opened at $232.62 on Tuesday. The stock has a 50-day moving average price of $241.70 and a two-hundred day moving average price of $223.99. Steel Dynamics, Inc. has a 1 year low of $126.88 and a 1 year high of $288.74. The stock has a market cap of $33.34 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 0.44 and a beta of 1.52. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is presently 19.22%.

Steel Dynamics 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.