Assenagon Asset Management S.A. Sells 4,090 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Assenagon Asset Management S.A. reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,809 shares of the basic materials company’s stock after selling 4,090 shares during the period. Assenagon Asset Management S.A.’s holdings in Steel Dynamics were worth $2,488,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board grew its stake in shares of Steel Dynamics by 5.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the basic materials company’s stock worth $2,616,000 after acquiring an additional 1,100 shares in the last quarter. Sei Investments Co. boosted its holdings in Steel Dynamics by 19.6% during the second quarter. Sei Investments Co. now owns 129,316 shares of the basic materials company’s stock worth $16,750,000 after purchasing an additional 21,204 shares during the last quarter. ProShare Advisors LLC grew its position in Steel Dynamics by 3.0% in the second quarter. ProShare Advisors LLC now owns 29,339 shares of the basic materials company’s stock valued at $3,799,000 after purchasing an additional 850 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in Steel Dynamics in the second quarter valued at $210,000. Finally, 1832 Asset Management L.P. increased its stake in Steel Dynamics by 3.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 21,250 shares of the basic materials company’s stock valued at $2,752,000 after buying an additional 621 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Down 1.4 %

STLD stock opened at $122.89 on Thursday. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock has a market cap of $18.71 billion, a price-to-earnings ratio of 11.12 and a beta of 1.36. The company has a fifty day moving average price of $127.92 and a two-hundred day moving average price of $126.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. During the same quarter in the prior year, the company posted $2.61 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.7 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.50%. Steel Dynamics’s payout ratio is currently 16.65%.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,650 shares of company stock worth $1,498,170 in the last ninety days. 6.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

STLD has been the subject of a number of recent research reports. UBS Group restated a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $140.88.

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.