BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 31.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,038 shares of the basic materials company’s stock after selling 22,503 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Steel Dynamics were worth $6,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Steel Dynamics during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Steel Dynamics during the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. increased its position in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $52,000. Finally, Quest Partners LLC bought a new position in Steel Dynamics in the 3rd quarter valued at approximately $62,000. 82.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Steel Dynamics Trading Down 1.0 %

Steel Dynamics stock opened at $143.57 on Monday. The business has a 50-day simple moving average of $132.24 and a two-hundred day simple moving average of $127.44. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a market cap of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.47 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.28%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on 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 approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,591 shares of company stock valued at $3,885,938. Company insiders own 6.00% of the company’s stock.

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.