Forsta AP Fonden Trims Holdings in Steel Dynamics, Inc. $STLD

Forsta AP Fonden decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,600 shares of the basic materials company’s stock after selling 2,900 shares during the period. Forsta AP Fonden’s holdings in Steel Dynamics were worth $4,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. NewEdge Advisors LLC increased its stake in Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 618 shares during the period. Acadian Asset Management LLC increased its stake in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares during the period. Jump Financial LLC purchased a new stake in Steel Dynamics in the second quarter worth $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the 2nd quarter worth $48,746,000. Finally, Sei Investments Co. grew its position in shares of Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after buying an additional 7,712 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD stock opened at $271.41 on Wednesday. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $273.55. The stock’s 50-day moving average is $212.63 and its 200 day moving average is $189.52. The company has a market cap of $39.28 billion, a P/E ratio of 29.03, a PEG ratio of 0.56 and a beta of 1.50. 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 (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $1.44 EPS. Steel Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. Research analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Morgan Stanley reissued an “underperform” rating and set a $190.00 price target 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. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.36.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was 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 directly owned 122,257 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 12,125 shares of company stock valued at $2,751,227 over the last quarter. 6.60% of the stock is owned by corporate insiders.

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.