Steel Dynamics, Inc. $STLD Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,635 shares of the basic materials company’s stock after selling 526 shares during the period. Vontobel Holding Ltd.’s holdings in Steel Dynamics were worth $465,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STLD. Victory Capital Management Inc. grew its holdings in Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after purchasing an additional 1,475,767 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after acquiring an additional 1,437,897 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics by 531.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock worth $149,054,000 after acquiring an additional 1,002,813 shares in the last quarter. Nuveen LLC acquired a new position in Steel Dynamics during the 1st quarter worth $62,470,000. Finally, AQR Capital Management LLC grew its holdings in Steel Dynamics by 302.3% during the 1st quarter. AQR Capital Management LLC now owns 350,376 shares of the basic materials company’s stock worth $42,988,000 after acquiring an additional 263,278 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $149.89.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Up 1.0%

NASDAQ STLD opened at $146.98 on Wednesday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a 50-day simple moving average of $134.20 and a 200-day simple moving average of $130.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The firm has a market capitalization of $21.64 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm posted $2.72 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics’s dividend payout ratio (DPR) is currently 29.15%.

Steel Dynamics 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.