Steel Dynamics, Inc. $STLD Shares Sold by Allianz SE

Allianz SE lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 69.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,930 shares of the basic materials company’s stock after selling 4,450 shares during the period. Allianz SE’s holdings in Steel Dynamics were worth $269,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of STLD. Cornerstone Planning Group LLC lifted its holdings in Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares during the last quarter. True Wealth Design LLC boosted its holdings in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 177 shares in the last quarter. Toth Financial Advisory Corp increased its stake in Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Covestor Ltd raised its holdings in Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. Finally, CNB Bank purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $193.13 on Friday. The stock has a fifty day moving average price of $182.38 and a 200 day moving average price of $160.04. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market cap of $28.20 billion, a PE ratio of 24.11, a P/E/G ratio of 0.52 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping 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 the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. Steel Dynamics’s quarterly revenue was up 14.0% on a year-over-year basis. Sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on STLD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Wells Fargo & Company boosted their target price on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Jefferies Financial Group boosted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, UBS Group set a $165.00 target price on shares of Steel Dynamics in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

Steel Dynamics Company Profile

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.