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

Raiffeisen Bank International AG boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,162 shares of the basic materials company’s stock after purchasing an additional 2,771 shares during the period. Raiffeisen Bank International AG’s holdings in Steel Dynamics were worth $14,278,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Syon Capital LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $241,000. TD Waterhouse Canada Inc. grew its position in Steel Dynamics by 541.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,010 shares of the basic materials company’s stock worth $2,887,000 after acquiring an additional 10,981 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Steel Dynamics by 444.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 10,826 shares of the basic materials company’s stock worth $2,484,000 after acquiring an additional 8,836 shares during the last quarter. NEOS Investment Management LLC increased its stake in Steel Dynamics by 15.7% in the 2nd quarter. NEOS Investment Management LLC now owns 22,641 shares of the basic materials company’s stock worth $5,195,000 after purchasing an additional 3,068 shares during the period. Finally, iSAM Funds UK Ltd purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $321,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their target price on shares of Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, August 24th. UBS Group upped their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Bank of America dropped their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Barclays raised their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.27.

Steel Dynamics Price Performance

STLD opened at $246.03 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a 52-week low of $127.44 and a 52-week high of $288.74. The stock has a market capitalization of $35.26 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.47 and a beta of 1.50. The stock’s 50 day moving average price is $241.53 and its 200-day moving average price is $224.91.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the company earned $2.01 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, equities research analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio is 19.22%.

Steel Dynamics Profile

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.