Tredje AP fonden Cuts Stake in Steel Dynamics, Inc. $STLD

Tredje AP fonden cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 26,047 shares of the basic materials company’s stock after selling 4,641 shares during the period. Tredje AP fonden’s holdings in Steel Dynamics were worth $4,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its stake in 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 buying an additional 180 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the period. Torren Management LLC acquired a new position in shares of Steel Dynamics in the fourth quarter worth about $34,000. Covestor Ltd grew its holdings in Steel Dynamics by 44.3% in 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 during the period. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of Steel Dynamics during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on STLD shares. Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price for the company. in a research note on Thursday, April 30th. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a research note on Tuesday, March 17th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. JPMorgan Chase & Co. upped 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. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average price target of $214.30.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 12,125 shares of company stock worth $2,751,227. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 2.3%

STLD opened at $223.37 on Wednesday. The business has a 50 day moving average price of $199.56 and a two-hundred day moving average price of $183.56. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $243.73. The company has a market cap of $32.33 billion, a PE ratio of 23.89, a P/E/G ratio of 0.49 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion for 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 business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the company earned $1.44 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is 22.67%.

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.