19,326 Shares in Steel Dynamics, Inc. $STLD Purchased by ABN Amro Investment Solutions

ABN Amro Investment Solutions purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 19,326 shares of the basic materials company’s stock, valued at approximately $2,474,000.

A number of other large investors have also bought and sold shares of STLD. Cary Street Partners Investment Advisory LLC raised its position in shares of Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Trust Co. of Toledo NA OH bought a new stake in Steel Dynamics in the 2nd quarter worth approximately $30,000. Zions Bancorporation National Association UT purchased a new position in Steel Dynamics in the 1st quarter worth $32,000. WPG Advisers LLC bought a new stake in shares of Steel Dynamics in the 1st quarter valued at about $32,000. Finally, Rosenberg Matthew Hamilton lifted its position in Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STLD shares. Jefferies Financial Group lifted their price objective on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Thursday. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley raised their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $170.44.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $155.41 on Friday. The company has a market cap of $22.70 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $145.58 and its 200-day moving average price is $135.61. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $164.73.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. Steel Dynamics’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.30% of the stock is owned by corporate insiders.

About Steel Dynamics

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.