Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lessened by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 36.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,224 shares of the basic materials company’s stock after selling 4,815 shares during the quarter. Vontobel Holding Ltd.’s holdings in Steel Dynamics were worth $1,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC acquired a new position in Steel Dynamics during the first quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Steel Dynamics during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics during the second quarter valued at approximately $41,000. Riverview Trust Co acquired a new position in Steel Dynamics during the first quarter valued at approximately $50,000. Finally, Cullen Frost Bankers Inc. grew its holdings in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.29.

Steel Dynamics Trading Up 1.1 %

NASDAQ:STLD opened at $136.57 on Monday. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The stock has a market capitalization of $21.46 billion, a PE ratio of 9.38 and a beta of 1.31. The business’s 50-day simple moving average is $120.79 and its 200-day simple moving average is $127.37.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.12 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is 12.64%.

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.