Groupama Asset Managment Has $3.43 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Groupama Asset Managment reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 39.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,101 shares of the basic materials company’s stock after selling 19,693 shares during the period. Groupama Asset Managment’s holdings in Steel Dynamics were worth $3,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in shares of Steel Dynamics by 0.9% during the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after buying an additional 88 shares in the last quarter. Atomi Financial Group Inc. grew its position in Steel Dynamics by 5.0% during the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after buying an additional 91 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in Steel Dynamics by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $366,000 after acquiring an additional 101 shares during the period. Center For Asset Management LLC raised its holdings in Steel Dynamics by 3.6% in the 4th quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company’s stock valued at $371,000 after acquiring an additional 113 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its position in shares of Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 118 shares during the period. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $132.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. Finally, Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus target price of $149.67.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $124.00 on Wednesday. The firm’s fifty day moving average price is $128.43 and its two-hundred day moving average price is $128.98. The stock has a market cap of $18.59 billion, a PE ratio of 12.65, a PEG ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

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 analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the business posted $2.61 EPS. On average, equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.61%. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

Steel Dynamics declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.