Lansforsakringar Fondforvaltning AB publ Purchases 6,738 Shares of Steel Dynamics, Inc. $STLD

Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 16.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,912 shares of the basic materials company’s stock after buying an additional 6,738 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Steel Dynamics were worth $6,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLD. Cornerstone Planning Group LLC lifted its holdings in shares of Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares during the period. Toth Financial Advisory Corp increased its stake in Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 100 shares during the last quarter. Covestor Ltd raised its position in Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. CNB Bank bought a new stake in Steel Dynamics during the third quarter worth $43,000. Finally, True Wealth Design LLC boosted its holdings in shares of Steel Dynamics by 120.4% in the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 177 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. KeyCorp reiterated an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $182.00.

Steel Dynamics Price Performance

Shares of STLD opened at $190.87 on Wednesday. The business has a 50-day moving average of $181.27 and a 200-day moving average of $158.84. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market capitalization of $27.87 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $208.47.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be issued a $0.53 dividend. The ex-dividend date is Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Steel Dynamics 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.