Swiss Life Asset Management Ltd Grows Stake in Steel Dynamics, Inc. $STLD

Swiss Life Asset Management Ltd grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,376 shares of the basic materials company’s stock after acquiring an additional 6,336 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Steel Dynamics were worth $7,181,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Sound Income Strategies LLC grew its holdings in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Torren Management LLC purchased a new position in Steel Dynamics in the 4th quarter worth approximately $34,000. Nvest Wealth Strategies Inc. bought a new position in Steel Dynamics in the 4th quarter valued at approximately $42,000. Finally, Eagle Bay Advisors LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $237.08 on Thursday. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 0.50 and a beta of 1.48. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $243.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The business’s fifty day moving average price is $196.49 and its 200-day moving average price is $181.59.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate 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 was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, equities analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on STLD. Citigroup lifted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. KeyCorp increased their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company boosted their target price on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Six research analysts have rated the stock with 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, the company currently has an average rating of “Hold” and a consensus target price of $214.30.

Insider Activity

In other news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The SEC filing for this sale provides additional information. 6.60% of the stock is owned by corporate insiders.

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.