Livforsakringsbolaget Skandia Omsesidigt Increases Stake in Steel Dynamics, Inc. $STLD

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4,377.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,300 shares of the basic materials company’s stock after buying an additional 39,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Steel Dynamics were worth $7,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in STLD. Life Cycle Investment Partners Ltd purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $586,702,000. Norges Bank purchased a new stake in shares of Steel Dynamics during the 4th quarter worth $564,590,000. Boston Partners lifted its position in shares of Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock worth $303,970,000 after purchasing an additional 1,070,042 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Steel Dynamics by 92.4% during the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock worth $174,609,000 after purchasing an additional 494,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Steel Dynamics in the second quarter valued at $48,746,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,125 shares of company stock worth $5,438,226 over the last quarter. 6.60% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

Shares of STLD opened at $233.35 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock has a market capitalization of $33.77 billion, a P/E ratio of 24.96, a P/E/G ratio of 0.45 and a beta of 1.53. The company’s fifty day moving average is $246.03 and its two-hundred day moving average is $207.77. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its earnings results 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). The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 16.73 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Analysts Set New Price Targets

Several research firms have recently issued reports on STLD. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. BMO Capital Markets increased their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Citigroup lifted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $234.55.

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.