Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,338 shares of the basic materials company’s stock after selling 2,797 shares during the period. Vontobel Holding Ltd.’s holdings in Steel Dynamics were worth $2,402,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in Steel Dynamics by 165.4% during the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after acquiring an additional 1,255,751 shares during the period. Norges Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth $90,665,000. First Trust Advisors LP increased its holdings in shares of Steel Dynamics by 183.6% in the 1st quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after purchasing an additional 893,705 shares in the last quarter. State Street Corp lifted its stake in shares of Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after purchasing an additional 800,656 shares during the period. Finally, Morgan Stanley boosted its holdings in Steel Dynamics by 29.2% during the fourth quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after buying an additional 684,975 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $136.07 on Friday. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.42. The stock has a fifty day moving average of $135.97 and a two-hundred day moving average of $121.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.37 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a dividend of $0.46 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.35%. Steel Dynamics’s dividend payout ratio is presently 12.61%.

Analyst Ratings Changes

STLD has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday. BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Finally, UBS Group cut their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $120.29.

Steel Dynamics Profile

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.