Raiffeisen Bank International AG Purchases Shares of 59,085 Steel Dynamics, Inc. $STLD

Raiffeisen Bank International AG acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,085 shares of the basic materials company’s stock, valued at approximately $7,770,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in STLD. Harbour Capital Advisors LLC lifted its position in Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after buying an additional 80 shares during the period. Hemington Wealth Management increased its stake in shares of Steel Dynamics by 35.9% during the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Steel Dynamics by 5.8% during the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 100 shares during the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of Steel Dynamics by 6.6% during the 2nd quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 106 shares during the period. Finally, Forum Financial Management LP boosted its position in shares of Steel Dynamics by 2.5% in the second quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock worth $579,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.2%

Shares of STLD stock opened at $155.07 on Tuesday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $164.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. The business’s fifty day moving average is $145.99 and its 200-day moving average is $135.87. The stock has a market cap of $22.65 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $2.05 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. BMO Capital Markets increased their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. KeyCorp upped their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, UBS Group set a $165.00 target price on Steel Dynamics in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $170.44.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction 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 $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by insiders.

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.