Deutsche Bank AG Makes New $126.58 Million Investment in Steel Dynamics, Inc. $STLD

Deutsche Bank AG purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 551,640 shares of the basic materials company’s stock, valued at approximately $126,579,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Research Global Investors increased its stake in shares of Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after purchasing an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Steel Dynamics during the 4th quarter worth approximately $586,702,000. Norges Bank purchased a new stake in Steel Dynamics in the 4th quarter valued at approximately $564,590,000. Invesco Ltd. lifted its stake in Steel Dynamics by 6.3% in the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock valued at $332,985,000 after buying an additional 116,379 shares in the last quarter. Finally, Boston Partners grew its holdings in Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after buying an additional 1,070,042 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 7.5%

Shares of NASDAQ STLD opened at $231.01 on Thursday. The firm has a market cap of $33.11 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a 1 year low of $124.77 and a 1 year high of $288.74. The firm’s 50 day moving average price is $247.35 and its 200 day moving average price is $221.95.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics’s revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is currently 19.22%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. BMO Capital Markets upped their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Wednesday, July 29th. They set a “buy” rating and a $300.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.09.

Insider Buying and Selling

In related news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.60% of the company’s stock.

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.