DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 211,791 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 90.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,641 shares of the basic materials company’s stock after selling 211,791 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Steel Dynamics were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in STLD. Atomi Financial Group Inc. raised its stake in Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock valued at $220,000 after acquiring an additional 91 shares during the period. Resonant Capital Advisors LLC raised its position in shares of Steel Dynamics by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 101 shares during the period. OneAscent Financial Services LLC lifted its stake in shares of Steel Dynamics by 2.2% during the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company’s stock valued at $527,000 after buying an additional 101 shares in the last quarter. Center For Asset Management LLC boosted its holdings in Steel Dynamics by 3.6% in the 4th quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company’s stock worth $371,000 after buying an additional 113 shares during the period. Finally, Cidel Asset Management Inc. grew its stake in Steel Dynamics by 6.2% in the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company’s stock valued at $232,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on STLD shares. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and upped their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. Finally, Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $147.44.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $130.52 on Friday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a fifty day moving average of $123.59 and a 200-day moving average of $128.13. The company has a market capitalization of $19.56 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the company posted $3.67 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics announced that its board has authorized a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Steel Dynamics Company 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.