Baader Bank Aktiengesellschaft Acquires New Holdings in Steel Dynamics, Inc. $STLD

Baader Bank Aktiengesellschaft acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,157 shares of the basic materials company’s stock, valued at approximately $1,043,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its holdings in Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after buying an additional 72,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock valued at $145,953,000 after buying an additional 10,537 shares during the last quarter. Bank of America Corp DE increased its holdings in Steel Dynamics by 34.7% during the second quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock valued at $131,715,000 after buying an additional 264,827 shares during the last quarter. Boston Partners purchased a new stake in Steel Dynamics during the third quarter valued at approximately $101,254,000. Finally, AQR Capital Management LLC increased its holdings in Steel Dynamics by 79.1% during the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock valued at $80,332,000 after buying an additional 277,166 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $214.30.

Insider Transactions at Steel Dynamics

In related news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,125 shares of company stock valued at $2,751,227 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $234.68 on Friday. The firm has a fifty day moving average price of $197.24 and a 200-day moving average price of $182.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock has a market cap of $33.96 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $243.73.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. Equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio is 22.67%.

About Steel Dynamics

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.