AEGON ASSET MANAGEMENT UK Plc Sells 4,317 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 85,726 shares of the basic materials company’s stock after selling 4,317 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Steel Dynamics were worth $10,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC increased its stake in Steel Dynamics by 1,498.4% in the first quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock valued at $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department raised its stake in Steel Dynamics by 126.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after buying an additional 3,986 shares during the period. Bessemer Group Inc. lifted its holdings in Steel Dynamics by 2,679.3% during the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock worth $1,611,000 after acquiring an additional 10,476 shares in the last quarter. LBP AM SA grew its stake in Steel Dynamics by 26.5% in the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after acquiring an additional 4,599 shares during the period. Finally, M&G Plc bought a new stake in shares of Steel Dynamics in the first quarter worth about $9,478,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Trading Up 0.4 %

Steel Dynamics stock opened at $148.55 on Friday. The company has a market cap of $22.92 billion, a price-to-earnings ratio of 13.44 and a beta of 1.31. The firm has a 50-day moving average of $126.13 and a 200-day moving average of $126.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 earnings per share. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. Steel Dynamics’s payout ratio is 16.65%.

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.