Raiffeisen Bank International AG Acquires New Position in Steel Dynamics, Inc. $STLD

Raiffeisen Bank International AG acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 59,085 shares of the basic materials company’s stock, valued at approximately $7,770,000.

A number of other large investors have also modified their holdings of STLD. Generali Investments Management Co LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at approximately $88,000. Rockefeller Capital Management L.P. raised its position in Steel Dynamics by 11.2% in the second quarter. Rockefeller Capital Management L.P. now owns 21,695 shares of the basic materials company’s stock worth $2,777,000 after acquiring an additional 2,181 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Steel Dynamics by 663.6% in the second quarter. Intech Investment Management LLC now owns 38,050 shares of the basic materials company’s stock valued at $4,871,000 after acquiring an additional 33,067 shares during the period. Cetera Investment Advisers boosted its position in shares of Steel Dynamics by 4.0% during the 2nd quarter. Cetera Investment Advisers now owns 21,800 shares of the basic materials company’s stock worth $2,791,000 after purchasing an additional 843 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Steel Dynamics by 5.5% during the 2nd quarter. Creative Planning now owns 31,598 shares of the basic materials company’s stock worth $4,045,000 after purchasing an additional 1,648 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

STLD stock opened at $155.07 on Tuesday. The stock’s 50 day moving average price is $145.99 and its 200 day moving average price is $135.87. The firm has a market cap of $22.65 billion, a P/E ratio of 20.54, a PEG ratio of 1.39 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $164.73.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the business posted $2.05 earnings per share. Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STLD shares. UBS Group set a $165.00 price target on shares of Steel Dynamics in a report on Tuesday, November 4th. KeyCorp upped their target price on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Morgan Stanley boosted their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Steel Dynamics 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.