Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 40.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,416 shares of the basic materials company’s stock after selling 28,960 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Steel Dynamics were worth $6,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the first quarter worth about $25,000. LifeSteps Financial Inc. purchased a new stake in shares of Steel Dynamics during the first quarter worth about $26,000. CVA Family Office LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $29,000. Finally, Lindbrook Capital LLC increased its holdings in Steel Dynamics by 117.5% in the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STLD. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets lowered their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $133.86.

Steel Dynamics Stock Performance

STLD stock traded down $0.52 during midday trading on Friday, reaching $128.61. The company had a trading volume of 106,096 shares, compared to its average volume of 1,235,773. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $128.96 and a 200 day moving average price of $129.42. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The firm has a market capitalization of $20.21 billion, a PE ratio of 8.84 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 23.03% and a net margin of 11.10%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.81 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 11.44 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were given a dividend of $0.46 per share. The ex-dividend date was Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.43%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.00% of the company’s stock.

About Steel Dynamics

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.