Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 36.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 282,084 shares of the basic materials company’s stock after selling 160,663 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.18% of Steel Dynamics worth $35,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. Atomi Financial Group Inc. grew its holdings in Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 79 shares during the period. Csenge Advisory Group raised its holdings in shares of Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after purchasing an additional 81 shares in the last quarter. Dorsey Wright & Associates lifted its stake in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares during the last quarter. Greenleaf Trust boosted its holdings in Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after buying an additional 96 shares in the last quarter. Finally, Stiles Financial Services Inc grew its position in 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. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Steel Dynamics

In related 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 value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction 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 owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $135.65 on Wednesday. The company has a 50 day simple moving average of $123.96 and a 200-day simple moving average of $126.39. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $151.34. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 12.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm earned $3.47 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts predict that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.36%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is currently 16.65%.

Steel Dynamics Company 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.