Swedbank AB Grows Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Swedbank AB increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,614 shares of the basic materials company’s stock after acquiring an additional 798 shares during the period. Swedbank AB owned about 0.14% of Steel Dynamics worth $26,428,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after purchasing an additional 140,042 shares during the period. Thrivent Financial for Lutherans increased its holdings in Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after buying an additional 22,390 shares during the last quarter. LSV Asset Management increased its holdings in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after buying an additional 53,532 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Steel Dynamics by 1.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock worth $76,697,000 after acquiring an additional 10,701 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after acquiring an additional 225,832 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STLD. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Price Performance

STLD stock opened at $144.98 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company’s fifty day moving average price is $132.92 and its 200-day moving average price is $127.51. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a market capitalization of $22.07 billion, a PE ratio of 13.12 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the company earned $3.47 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is presently 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 in the last quarter. 6.00% of the stock is owned by corporate 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.