Erste Asset Management GmbH Has $963,000 Stock Position in Steel Dynamics, Inc. $STLD

Erste Asset Management GmbH increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 196.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,626 shares of the basic materials company’s stock after purchasing an additional 3,726 shares during the quarter. Erste Asset Management GmbH’s holdings in Steel Dynamics were worth $963,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Steel Dynamics by 23.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,308,702 shares of the basic materials company’s stock worth $221,760,000 after acquiring an additional 249,442 shares during the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $607,000. Capital Research Global Investors boosted its stake in shares of Steel Dynamics by 0.3% in the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after purchasing an additional 9,959 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $102,000. Finally, Cookson Peirce & Co. Inc. boosted its stake in Steel Dynamics by 28.3% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,063 shares of the basic materials company’s stock worth $350,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STLD. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Morgan Stanley restated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.64.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 22,125 shares of company stock worth $5,438,227. Insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Down 0.5%

STLD stock opened at $268.34 on Thursday. 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 company has a fifty day moving average price of $226.75 and a two-hundred day moving average price of $195.23. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $280.49. The stock has a market cap of $38.83 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is presently 22.67%.

Steel Dynamics 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.