KBC Group NV Trims Stock Position in Steel Dynamics, Inc. $STLD

KBC Group NV cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,629 shares of the basic materials company’s stock after selling 94,226 shares during the quarter. KBC Group NV’s holdings in Steel Dynamics were worth $69,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the period. Nordea Investment Management AB increased its stake in Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after acquiring an additional 630,935 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after acquiring an additional 1,475,767 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after acquiring an additional 484,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Steel Dynamics by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after purchasing an additional 52,218 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Down 0.0%

NASDAQ:STLD opened at $152.38 on Wednesday. The company has a fifty day moving average of $144.13 and a 200 day moving average of $135.13. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $164.73. The firm has a market capitalization of $22.25 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Steel Dynamics’s payout ratio is presently 26.49%.

Analysts Set New Price Targets

STLD has been the subject of several research analyst reports. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. BMO Capital Markets upped their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Citigroup increased their target price on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley lifted their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.11.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.30% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.