Natixis Advisors LLC Has $5.94 Million Stake in Steel Dynamics, Inc. $STLD

Natixis Advisors LLC trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 25.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 35,030 shares of the basic materials company’s stock after selling 12,144 shares during the period. Natixis Advisors LLC’s holdings in Steel Dynamics were worth $5,936,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STLD. Fisher Asset Management LLC boosted its holdings in Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after acquiring an additional 11,183 shares during the period. Strs Ohio boosted its holdings in Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after acquiring an additional 10,519 shares during the period. Concentric Capital Strategies LP bought a new stake in Steel Dynamics during the third quarter valued at about $24,349,000. Robeco Institutional Asset Management B.V. boosted its holdings in Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after acquiring an additional 72,122 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in Steel Dynamics by 16.4% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock valued at $6,680,000 after acquiring an additional 6,738 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STLD. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp upped their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Barclays began coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target for the company. Citigroup upped their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets upped their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.64.

Steel Dynamics Stock Down 0.5%

NASDAQ STLD opened at $267.20 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm has a 50-day simple moving average of $222.85 and a 200 day simple moving average of $193.61. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $280.49. The stock has a market cap of $38.67 billion, a PE ratio of 28.58, a PEG ratio of 0.57 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. On average, research analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,125 shares of company stock worth $5,438,227 in the last three months. Corporate insiders own 6.60% of the company’s stock.

About Steel Dynamics

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.