Allianz SE Trims Holdings in Steel Dynamics, Inc. $STLD

Allianz SE reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 69.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,930 shares of the basic materials company’s stock after selling 4,450 shares during the quarter. Allianz SE’s holdings in Steel Dynamics were worth $269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Steel Dynamics by 13.2% in the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 64 shares during the period. Bartlett & CO. Wealth Management LLC boosted its holdings in Steel Dynamics by 24.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 75 shares during the last quarter. Choreo LLC grew its stake in shares of Steel Dynamics by 3.3% in the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock valued at $353,000 after buying an additional 80 shares during the period. Bessemer Group Inc. increased its holdings in shares of Steel Dynamics by 6.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,339 shares of the basic materials company’s stock worth $187,000 after buying an additional 81 shares during the last quarter. Finally, Wright Investors Service Inc. raised its position in shares of Steel Dynamics by 1.5% during the 3rd quarter. Wright Investors Service Inc. now owns 5,491 shares of the basic materials company’s stock valued at $766,000 after buying an additional 82 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $193.13 on Friday. The firm has a 50 day moving average of $182.38 and a two-hundred day moving average of $160.04. The stock has a market capitalization of $28.20 billion, a PE ratio of 24.11, a P/E/G ratio of 0.52 and a beta of 1.46. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

Analyst Ratings Changes

Several research analysts recently weighed in on STLD shares. KeyCorp reiterated an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday, November 4th. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Jefferies Financial Group upped their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

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.