ING Groep NV Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

ING Groep NV lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 90.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,824 shares of the basic materials company’s stock after selling 193,151 shares during the period. ING Groep NV’s holdings in Steel Dynamics were worth $2,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. CVA Family Office LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth approximately $29,000. Lindbrook Capital LLC increased its stake in shares of Steel Dynamics by 117.5% in the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 134 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at $44,000. Finally, Denali Advisors LLC lifted its stake in shares of Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. UBS Group decreased their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Citigroup increased their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group assumed coverage on Steel Dynamics in a report on Monday. They issued a “hold” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.29.

Get Our Latest Stock Analysis on STLD

Steel Dynamics Trading Down 0.6 %

NASDAQ STLD opened at $133.08 on Tuesday. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The company’s 50-day moving average price is $138.79 and its 200-day moving average price is $125.78. The stock has a market cap of $20.91 billion, a PE ratio of 9.14 and a beta of 1.47. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company posted $4.01 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 12.36 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is 12.64%.

Steel Dynamics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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