AEGON ASSET MANAGEMENT UK Plc Purchases 5,522 Shares of Steel Dynamics, Inc. $STLD

AEGON ASSET MANAGEMENT UK Plc boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,535 shares of the basic materials company’s stock after purchasing an additional 5,522 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.18% of Steel Dynamics worth $37,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Trust Co. of Toledo NA OH bought a new position in shares of Steel Dynamics in the second quarter worth about $30,000. Rosenberg Matthew Hamilton grew its stake in Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 199 shares in the last quarter. True Wealth Design LLC increased its position in shares of Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 100 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Steel Dynamics by 44.3% in the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Jefferies Financial Group lifted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. BMO Capital Markets raised their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Citigroup boosted their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $182.00.

Steel Dynamics Stock Up 1.4%

NASDAQ:STLD opened at $181.32 on Monday. The firm has a market capitalization of $26.48 billion, a P/E ratio of 24.02, a PEG ratio of 0.76 and a beta of 1.48. The company’s fifty day moving average price is $169.72 and its 200-day moving average price is $149.13. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $182.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were given a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

About Steel Dynamics

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.