AEGON ASSET MANAGEMENT UK Plc Has $46.22 Million Stock Position in Steel Dynamics, Inc. $STLD

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 257,874 shares of the basic materials company’s stock after selling 22,019 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Steel Dynamics were worth $46,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Life Cycle Investment Partners Ltd acquired a new stake in Steel Dynamics during the 4th quarter valued at $586,702,000. Norges Bank bought a new position in Steel Dynamics during the fourth quarter worth $564,590,000. Boston Partners increased its holdings in shares of Steel Dynamics by 147.9% in the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Steel Dynamics by 92.4% in the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock valued at $174,609,000 after purchasing an additional 494,828 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics in the second quarter valued at about $48,746,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $249.91 on Friday. 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 firm has a market cap of $36.17 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 0.50 and a beta of 1.50. The stock’s fifty day moving average price is $239.04 and its two-hundred day moving average price is $200.11. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results 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). The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 15.67 EPS for the current year.

Steel Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STLD shares. Bank of America cut their target price on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays initiated coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. KeyCorp increased their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.18.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% 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 three months. 6.60% of the stock is owned by insiders.

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.