Steel Dynamics, Inc. $STLD Shares Purchased by Swedbank AB

Swedbank AB boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 233,343 shares of the basic materials company’s stock after purchasing an additional 10,307 shares during the quarter. Swedbank AB’s holdings in Steel Dynamics were worth $32,535,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in STLD. State Street Corp grew its stake in shares of Steel Dynamics by 3.3% in the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after purchasing an additional 230,582 shares during the last quarter. Norges Bank bought a new stake in Steel Dynamics during the second quarter worth approximately $339,769,000. Nordea Investment Management AB boosted its holdings in Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after buying an additional 630,935 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after buying an additional 484,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Steel Dynamics by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock valued at $200,012,000 after buying an additional 52,218 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of a number of recent research reports. KeyCorp increased their price objective on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday. Wells Fargo & Company lifted their price target on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group upped their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.89.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $175.06 on Friday. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.19 and a beta of 1.47. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $178.36. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $161.71 and its 200-day simple moving average is $142.83.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company posted $2.05 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Steel Dynamics’s payout ratio is presently 26.49%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.