Steel Dynamics, Inc. $STLD Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,600 shares of the basic materials company’s stock after selling 2,900 shares during the quarter. Forsta AP Fonden’s holdings in Steel Dynamics were worth $4,507,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in STLD. Fisher Asset Management LLC raised its stake in shares of Steel Dynamics by 47.2% in the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after purchasing an additional 11,183 shares during the last quarter. Strs Ohio raised its stake in shares of Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after purchasing an additional 10,519 shares during the last quarter. Concentric Capital Strategies LP purchased a new position in shares of Steel Dynamics in the third quarter worth about $24,349,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Steel Dynamics by 16.4% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock worth $6,680,000 after purchasing an additional 6,738 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STLD shares. Wells Fargo & Company raised their price objective on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. KeyCorp raised their price objective on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Barclays began coverage on Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, BMO Capital Markets lifted their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $219.36.

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the business’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 completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,125 shares of company stock worth $2,751,227 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Up 3.8%

Shares of STLD stock opened at $271.41 on Wednesday. The stock has a 50 day moving average of $212.63 and a 200 day moving average of $189.52. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock has a market cap of $39.28 billion, a P/E ratio of 29.03, a P/E/G ratio of 0.56 and a beta of 1.50. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $273.55.

Steel Dynamics (NASDAQ:STLD) last announced 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). The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. Steel Dynamics’s payout ratio is 22.67%.

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.