Allianz Asset Management GmbH Has $35.41 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Allianz Asset Management GmbH lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 276,636 shares of the basic materials company’s stock after selling 56,702 shares during the period. Allianz Asset Management GmbH owned 0.19% of Steel Dynamics worth $35,412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Steel Dynamics in the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 163 shares during the period. Trust Co. of Toledo NA OH acquired a new position in shares of Steel Dynamics in the 2nd quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Steel Dynamics in the 1st quarter worth approximately $32,000. Finally, WPG Advisers LLC acquired a new position in shares of Steel Dynamics in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $149.89.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $142.75 on Friday. The company has a fifty day moving average of $135.49 and a 200-day moving average of $130.59. The firm has a market capitalization of $21.01 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.17 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.72 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s payout ratio is 29.15%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.30% of the company’s stock.

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.