ING Groep NV Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

ING Groep NV boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,192 shares of the basic materials company’s stock after buying an additional 20,316 shares during the period. ING Groep NV owned approximately 0.06% of Steel Dynamics worth $11,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of STLD. Csenge Advisory Group increased its stake in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the period. Covestor Ltd grew its position in Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 93 shares during the period. Dorsey Wright & Associates raised its stake in shares of Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after buying an additional 96 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after buying an additional 96 shares during the period. Finally, Stiles Financial Services Inc boosted its stake in shares of Steel Dynamics by 0.5% in the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Steel Dynamics Stock Performance

STLD opened at $137.81 on Friday. The firm’s fifty day simple moving average is $128.41 and its two-hundred day simple moving average is $127.08. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a market cap of $20.98 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company posted $3.47 EPS. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the 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 directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,591 shares of company stock worth $3,608,438. 6.00% of the stock is owned by corporate insiders.

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.