Assenagon Asset Management S.A. Has $2.49 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Assenagon Asset Management S.A. lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,809 shares of the basic materials company’s stock after selling 4,090 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Steel Dynamics were worth $2,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commerce Bank increased its holdings in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after buying an additional 73 shares during the period. M&T Bank Corp boosted its position in shares of Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 88 shares in the last quarter. Covestor Ltd increased its stake in Steel Dynamics by 10.8% in the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 93 shares during the last quarter. Dorsey Wright & Associates raised its position 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 in the last quarter. Finally, Greenleaf Trust lifted its stake 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 purchasing an additional 96 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,650 shares of company stock worth $1,498,170 over the last ninety days. 6.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets boosted their target price 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. Jefferies Financial Group reduced their price target on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup cut their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $140.88.

Steel Dynamics Trading Down 1.4 %

STLD opened at $122.89 on Thursday. 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, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company’s 50 day moving average price is $127.92 and its two-hundred day moving average price is $126.41. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 11.12 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. During the same quarter in the prior year, the firm posted $2.61 earnings per share. As a group, research analysts predict that Steel Dynamics, Inc. will post 9.7 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. Steel Dynamics’s payout ratio is 16.65%.

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.