Natixis Advisors L.P. Acquires 13,218 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Natixis Advisors L.P. boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 56.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,824 shares of the basic materials company’s stock after acquiring an additional 13,218 shares during the period. Natixis Advisors L.P.’s holdings in Steel Dynamics were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in Steel Dynamics by 895.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,347,196 shares of the basic materials company’s stock worth $19,028,000 after acquiring an additional 1,211,848 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of Steel Dynamics by 569.6% during the first quarter. Industrial Alliance Investment Management Inc. now owns 14,959 shares of the basic materials company’s stock valued at $1,691,000 after buying an additional 12,725 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Steel Dynamics by 1.9% during the first quarter. Rhumbline Advisers now owns 317,300 shares of the basic materials company’s stock valued at $35,874,000 after buying an additional 5,868 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Steel Dynamics during the first quarter valued at about $34,000. Finally, Stiles Financial Services Inc lifted its position in shares of Steel Dynamics by 20.4% during the first quarter. Stiles Financial Services Inc now owns 11,789 shares of the basic materials company’s stock valued at $1,333,000 after buying an additional 1,997 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gabriel Shaheen sold 1,717 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $105.80, for a total value of $181,658.60. Following the transaction, the director now owns 83,074 shares in the company, valued at approximately $8,789,229.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Christopher A. Graham sold 48,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total transaction of $5,041,440.00. Following the sale, the senior vice president now owns 61,353 shares of the company’s stock, valued at approximately $6,443,905.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gabriel Shaheen sold 1,717 shares of Steel Dynamics stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.80, for a total transaction of $181,658.60. Following the completion of the sale, the director now directly owns 83,074 shares in the company, valued at approximately $8,789,229.20. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley increased their price target on shares of Steel Dynamics from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $93.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, July 21st. UBS Group decreased their price target on shares of Steel Dynamics from $110.00 to $100.00 in a research report on Friday, May 5th. BNP Paribas lowered shares of Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 price target for the company. in a research report on Wednesday, July 5th. Finally, BMO Capital Markets decreased their price objective on shares of Steel Dynamics from $120.00 to $115.00 in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $108.44.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $106.59 on Friday. Steel Dynamics, Inc. has a twelve month low of $69.12 and a twelve month high of $136.46. The company’s 50 day moving average is $105.08 and its 200 day moving average is $106.90. The company has a current ratio of 4.20, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a market cap of $17.66 billion, a PE ratio of 6.22 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.01). Steel Dynamics had a return on equity of 40.44% and a net margin of 14.66%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company posted $6.73 EPS. Steel Dynamics’s quarterly revenue was down 18.2% compared to the same quarter last year. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.03 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.59%. Steel Dynamics’s dividend payout ratio (DPR) is presently 9.91%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.