MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $1.53 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 67.1% in the second quarter, HoldingsChannel.com reports. The fund owned 11,801 shares of the basic materials company’s stock after selling 24,043 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Steel Dynamics were worth $1,528,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Steel Dynamics by 415.3% during the 4th quarter. International Assets Investment Management LLC now owns 107,825 shares of the basic materials company’s stock valued at $12,734,000 after acquiring an additional 86,902 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Steel Dynamics by 30.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,397 shares of the basic materials company’s stock worth $401,000 after purchasing an additional 792 shares during the period. First Trust Direct Indexing L.P. boosted its stake in Steel Dynamics by 18.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 3,593 shares of the basic materials company’s stock worth $424,000 after purchasing an additional 548 shares during the period. Fisher Asset Management LLC boosted its stake in Steel Dynamics by 3.5% in the 4th quarter. Fisher Asset Management LLC now owns 59,338 shares of the basic materials company’s stock worth $7,008,000 after purchasing an additional 1,999 shares during the period. Finally, Natixis Advisors L.P. boosted its stake in Steel Dynamics by 33.9% in the 4th quarter. Natixis Advisors L.P. now owns 36,999 shares of the basic materials company’s stock worth $4,369,000 after purchasing an additional 9,367 shares during the period. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. BMO Capital Markets cut their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. Finally, Bank of America cut their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average target price of $138.14.

Steel Dynamics Stock Performance

Shares of STLD stock traded up $0.71 on Friday, reaching $119.51. The stock had a trading volume of 1,174,161 shares, compared to its average volume of 1,076,601. The firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of 8.21 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The firm’s 50-day moving average is $124.11 and its two-hundred day moving average is $130.48.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $4.81 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 10.74 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.54%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

About Steel Dynamics

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.