Steel Dynamics, Inc. $STLD Stake Cut by Groupama Asset Managment

Groupama Asset Managment lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 70.4% in the third quarter, HoldingsChannel.com reports. The firm owned 9,955 shares of the basic materials company’s stock after selling 23,733 shares during the period. Groupama Asset Managment’s holdings in Steel Dynamics were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC raised its holdings in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares during the period. Covestor Ltd grew its position in shares of Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. CNB Bank bought a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $43,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Steel Dynamics during the third quarter worth about $46,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of recent research reports. KeyCorp reissued an “overweight” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Wednesday, January 7th. Wells Fargo & Company lowered their target price on Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, Morgan Stanley restated an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $182.44.

Steel Dynamics Trading Down 0.7%

Steel Dynamics stock opened at $167.56 on Friday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $208.47. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 0.46 and a beta of 1.43. The firm has a 50-day moving average price of $184.79 and a two-hundred day moving average price of $164.90.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 earnings per share. Sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.53 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 annualized dividend and a yield of 1.3%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is 24.97%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.