Livforsakringsbolaget Skandia Omsesidigt Takes $9.26 Million Position in Steel Dynamics, Inc. $STLD

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,300 shares of the basic materials company’s stock, valued at approximately $9,264,000.

Other large investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. increased its position in Steel Dynamics by 27.1% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 197 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 42 shares during the period. Jacobi Capital Management LLC lifted its holdings in shares of Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after buying an additional 55 shares during the period. Hohimer Wealth Management LLC lifted its holdings in shares of Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after buying an additional 61 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Steel Dynamics by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock valued at $431,000 after buying an additional 64 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Steel Dynamics by 4.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after buying an additional 70 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

STLD has been the subject of several research analyst reports. Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Barclays upped their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Morgan Stanley cut their price target on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Finally, Bank of America reduced their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.27.

Steel Dynamics Stock Down 0.5%

STLD opened at $234.66 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The company has a market cap of $33.63 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.45 and a beta of 1.52. Steel Dynamics, Inc. has a one year low of $126.88 and a one year high of $288.74. The business’s fifty day moving average is $242.07 and its two-hundred day moving average is $223.62.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter last year, the business posted $2.01 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. Analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio is 19.22%.

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.