Nomura Asset Management Co. Ltd. Lowers Holdings in Steel Dynamics, Inc. $STLD

Nomura Asset Management Co. Ltd. cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,557 shares of the basic materials company’s stock after selling 10,957 shares during the period. Nomura Asset Management Co. Ltd. owned 0.05% of Steel Dynamics worth $13,142,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 618 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $1,019,000. Qube Research & Technologies Ltd purchased a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $48,746,000. Finally, Sei Investments Co. raised its holdings in shares of Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after acquiring an additional 7,712 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $271.41 on Wednesday. The stock’s fifty day moving average is $212.63 and its 200 day moving average is $189.52. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $273.55. The firm has a market capitalization of $39.28 billion, a PE ratio of 29.03, a PEG ratio of 0.56 and a beta of 1.50. 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 (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,125 shares of company stock worth $2,751,227. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STLD shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp upped their price objective on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.36.

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.