Allianz Asset Management GmbH Buys 102,479 Shares of Steel Dynamics, Inc. $STLD

Allianz Asset Management GmbH raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 37.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 379,115 shares of the basic materials company’s stock after buying an additional 102,479 shares during the quarter. Allianz Asset Management GmbH’s holdings in Steel Dynamics were worth $52,860,000 at the end of the most recent reporting period.

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

Steel Dynamics Stock Up 3.1%

Shares of NASDAQ STLD opened at $198.88 on Thursday. The stock has a market capitalization of $29.04 billion, a P/E ratio of 24.83, a PEG ratio of 0.52 and a beta of 1.46. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $199.10. The firm’s 50 day simple moving average is $173.61 and its two-hundred day simple moving average is $151.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. The firm’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.0%. Steel Dynamics’s payout ratio is currently 24.97%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STLD shares. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Morgan Stanley restated an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research report on Tuesday, November 4th. BMO Capital Markets increased their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target 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.