Banque Cantonale Vaudoise Trims Stake in Steel Dynamics, Inc. $STLD

Banque Cantonale Vaudoise lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 21.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,005 shares of the basic materials company’s stock after selling 2,793 shares during the period. Banque Cantonale Vaudoise’s holdings in Steel Dynamics were worth $1,801,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Prosperity Bancshares Inc purchased a new position in Steel Dynamics in the 4th quarter worth approximately $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its position in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. DV Equities LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth $33,000. Finally, Torren Management LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth $34,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 2.2%

Shares of NASDAQ:STLD opened at $245.49 on Friday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The company has a market cap of $35.53 billion, a PE ratio of 26.26, a P/E/G ratio of 0.49 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock’s 50-day moving average is $244.38 and its 200 day moving average is $202.86.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Steel Dynamics’s quarterly revenue was up 19.1% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is 22.67%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,125 shares of company stock valued at $5,438,226 in the last 90 days. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on STLD. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Bank of America decreased their price objective on Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. Finally, Morgan Stanley boosted their target price on Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.36.

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.