DekaBank Deutsche Girozentrale Purchases 4,088 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

DekaBank Deutsche Girozentrale increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,805 shares of the basic materials company’s stock after acquiring an additional 4,088 shares during the period. DekaBank Deutsche Girozentrale owned about 0.10% of Steel Dynamics worth $18,613,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of STLD. Atomi Financial Group Inc. grew its holdings in Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares during the period. Csenge Advisory Group grew its holdings in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares during the period. Greenfield Savings Bank grew its holdings in Steel Dynamics by 0.7% during the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares during the period. Finally, Stiles Financial Services Inc grew its holdings in Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after purchasing an additional 99 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 2.1 %

STLD stock opened at $112.84 on Monday. The firm has a fifty day moving average price of $121.20 and a 200 day moving average price of $129.54. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The firm has a market cap of $17.73 billion, a PE ratio of 7.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the company posted $4.81 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.81 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.63%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STLD. BMO Capital Markets dropped their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group initiated coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $120.00 to $131.00 in a report on Monday, September 9th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, Morgan Stanley raised their target price on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $143.43.

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.