AG2R LA Mondiale Gestion D Actifs Sells 415 Shares of Steel Dynamics, Inc. $STLD

AG2R LA Mondiale Gestion D Actifs decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.2% in the second quarter, Holdings Channel.com reports. The firm owned 7,590 shares of the basic materials company’s stock after selling 415 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Steel Dynamics were worth $972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC increased its stake in shares of Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $25,000. Trust Co. of Toledo NA OH bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $32,000. Finally, WPG Advisers LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $32,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.5%

NASDAQ:STLD opened at $152.95 on Monday. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $156.24. The company has a market cap of $22.52 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. The company has a 50 day simple moving average of $137.91 and a two-hundred day simple moving average of $132.02.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.49%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STLD shares. UBS Group set a $158.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, October 21st. BMO Capital Markets raised 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. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Morgan Stanley raised their price target on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Jefferies Financial Group raised their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

Steel Dynamics Company 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.