Assenagon Asset Management S.A. Sells 2,731 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Assenagon Asset Management S.A. trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 11.0% in the 4th quarter, Holdings Channel reports. The firm owned 22,152 shares of the basic materials company’s stock after selling 2,731 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Steel Dynamics were worth $2,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $28,000. Wellington Shields & Co. LLC increased its stake in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares during the period. Clearstead Advisors LLC purchased a new position in shares of Steel Dynamics during the third quarter valued at $35,000. Clear Street Markets LLC increased its stake in shares of Steel Dynamics by 94.0% during the first quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock valued at $37,000 after buying an additional 158 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at $40,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STLD shares. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $95.00 to $98.00 and gave the company an “underweight” rating in a research note on Tuesday, December 12th. UBS Group cut their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, BMO Capital Markets raised their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $118.13.

Check Out Our Latest Report on Steel Dynamics

Steel Dynamics Price Performance

STLD opened at $147.73 on Thursday. The business’s 50-day moving average is $130.95 and its two-hundred day moving average is $118.16. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The firm has a market capitalization of $23.33 billion, a PE ratio of 10.13 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the firm earned $4.37 EPS. Steel Dynamics’s revenue for the quarter was down 12.3% on a year-over-year basis. Research analysts anticipate that Steel Dynamics, Inc. will post 11.63 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st will be paid a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.25%. Steel Dynamics’s payout ratio is presently 12.61%.

About Steel Dynamics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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