MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Reduces Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 90.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,162 shares of the basic materials company’s stock after selling 10,639 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Steel Dynamics were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of STLD. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics in the first quarter valued at about $25,000. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics during the second quarter worth about $41,000. Riverview Trust Co acquired a new position in Steel Dynamics during the first quarter worth approximately $50,000. Finally, Quarry LP boosted its holdings in shares of Steel Dynamics by 583.9% in the fourth quarter. Quarry LP now owns 383 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 327 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $130.18 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a 1 year low of $98.25 and a 1 year high of $151.34. The business has a fifty day simple moving average of $119.81 and a 200 day simple moving average of $127.67. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 10.44 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.81 EPS. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 10.15 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. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. Steel Dynamics’s dividend payout ratio (DPR) is currently 14.76%.

Analyst Upgrades and Downgrades

STLD has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $142.86.

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.