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

Groupama Asset Managment cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Steel Dynamics by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company’s stock worth $419,697,000 after purchasing an additional 30,350 shares during the last quarter. Norges Bank acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $336,426,000. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after acquiring an additional 253,802 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Steel Dynamics by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company’s stock valued at $156,836,000 after acquiring an additional 11,672 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Steel Dynamics by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company’s stock valued at $117,189,000 after acquiring an additional 114,485 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

STLD stock opened at $124.00 on Wednesday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The firm has a market cap of $18.59 billion, a PE ratio of 12.65, a P/E/G ratio of 1.05 and a beta of 1.34. The business’s 50-day moving average price is $128.43 and its two-hundred day moving average price is $128.98.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the firm posted $2.61 EPS. As a group, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

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

Steel Dynamics declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $145.00 to $158.00 in a report on Friday, March 7th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. Citigroup reduced their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research report on Tuesday, February 11th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.67.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is currently owned by company insiders.

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.