Livforsakringsbolaget Skandia Omsesidigt Increases Stock Holdings in Steel Dynamics, Inc. $STLD

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4,377.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,300 shares of the basic materials company’s stock after buying an additional 39,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Steel Dynamics were worth $7,272,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after acquiring an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $586,702,000. Norges Bank acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $564,590,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 3.7% during the 4th 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 in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after purchasing an additional 116,379 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. KeyCorp boosted their price target on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. Morgan Stanley boosted their price target on Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Finally, Citigroup increased their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.55.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction dated 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 owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,125 shares of company stock worth $5,438,226 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Down 0.3%

Shares of Steel Dynamics stock opened at $233.35 on Wednesday. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The business’s fifty day moving average is $246.03 and its two-hundred day moving average is $207.77. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The firm has a market cap of $33.77 billion, a PE ratio of 24.96, a P/E/G ratio of 0.45 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion during 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%. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 16.73 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 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.