Royal London Asset Management Ltd. Has $258.60 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Royal London Asset Management Ltd. decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 23.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,526,106 shares of the basic materials company’s stock after selling 474,950 shares during the period. Steel Dynamics comprises 0.5% of Royal London Asset Management Ltd.’s holdings, making the stock its 26th largest position. Royal London Asset Management Ltd.’s holdings in Steel Dynamics were worth $258,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of STLD. Sound Income Strategies LLC increased its holdings in shares of Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Torren Management LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth about $34,000. Nvest Wealth Strategies Inc. bought a new position in shares of Steel Dynamics during the fourth quarter worth about $42,000. Eagle Bay Advisors LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth about $45,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Steel Dynamics during the third quarter worth about $46,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STLD shares. Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley restated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, KeyCorp raised their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.64.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,125 shares of company stock valued at $5,438,227. 6.60% of the stock is owned by insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $282.76 on Friday. The firm’s 50 day moving average price is $230.74 and its 200-day moving average price is $196.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $285.88. The firm has a market cap of $40.92 billion, a P/E ratio of 30.24, a P/E/G ratio of 0.57 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 15.32 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

About Steel Dynamics

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.