Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stock Holdings in Steel Dynamics, Inc. $STLD

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,937 shares of the basic materials company’s stock after purchasing an additional 14,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Steel Dynamics were worth $17,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in STLD. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics during the 4th quarter worth about $25,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC increased its position in 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 worth $28,000 after purchasing an additional 150 shares during the last quarter. DV Equities LLC purchased a new position in Steel Dynamics during the fourth quarter worth approximately $33,000. Finally, Torren Management LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $34,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America dropped their price objective on Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Barclays started coverage on Steel Dynamics in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. KeyCorp lifted their price objective on Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.36.

Insider Activity

In related news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s 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 completion of the transaction, the senior vice president owned 122,257 shares in the company, valued at $27,578,734.06. This represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 22,125 shares of company stock worth $5,438,226. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $220.39 on Friday. The business’s 50-day moving average is $245.84 and its two-hundred day moving average is $204.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The firm has a market capitalization of $31.89 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 0.43 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last issued its 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 during the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 EPS. Research analysts predict that Steel Dynamics, Inc. will post 16.78 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 1.0%. Steel Dynamics’s dividend payout ratio (DPR) 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.