Royal London Asset Management Ltd. Sells 16,581 Shares of Steel Dynamics, Inc. $STLD

Royal London Asset Management Ltd. trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,082,794 shares of the basic materials company’s stock after selling 16,581 shares during the period. Royal London Asset Management Ltd.’s holdings in Steel Dynamics were worth $248,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of STLD. Mufg Securities Americas Inc. grew its holdings in shares of Steel Dynamics by 7.5% during the second quarter. Mufg Securities Americas Inc. now owns 4,083 shares of the basic materials company’s stock worth $937,000 after purchasing an additional 285 shares during the last quarter. Van ECK Associates Corp lifted its position in Steel Dynamics by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 272,567 shares of the basic materials company’s stock worth $62,543,000 after buying an additional 7,306 shares in the last quarter. Nissay Asset Management Corp Japan grew its holdings in Steel Dynamics by 2.1% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 18,542 shares of the basic materials company’s stock worth $4,255,000 after acquiring an additional 390 shares during the last quarter. Navellier & Associates Inc. increased its position in Steel Dynamics by 3.5% in the 2nd quarter. Navellier & Associates Inc. now owns 30,747 shares of the basic materials company’s stock valued at $7,055,000 after acquiring an additional 1,033 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in Steel Dynamics in the 2nd quarter valued at about $12,342,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Price Performance

Shares of STLD opened at $234.66 on Friday. The stock has a market cap of $33.63 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.45 and a beta of 1.52. Steel Dynamics, Inc. has a 1 year low of $126.88 and a 1 year high of $288.74. The stock’s 50-day moving average price is $242.07 and its two-hundred day moving average price is $223.62. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. During the same period last year, the company posted $2.01 EPS. Steel Dynamics’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STLD. Wells Fargo & Company reduced their target price on shares of Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, August 24th. Morgan Stanley lowered their price target on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Bank of America dropped their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. UBS Group upped their price objective on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group assumed coverage on Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and an average price target of $257.27.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.