BI Asset Management Fondsmaeglerselskab A S Sells 25,983 Shares of Steel Dynamics, Inc. $STLD

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,367 shares of the basic materials company’s stock after selling 25,983 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Steel Dynamics were worth $21,243,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Optas LLC raised its holdings in Steel Dynamics by 3.0% in the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 58 shares during the last quarter. Wright Investors Service Inc. raised its holdings in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after acquiring an additional 64 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Steel Dynamics by 4.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 70 shares during the last quarter. Root Financial Partners LLC raised its holdings in Steel Dynamics by 22.2% in the 4th quarter. Root Financial Partners LLC now owns 424 shares of the basic materials company’s stock worth $72,000 after acquiring an additional 77 shares during the last quarter. Finally, Choreo LLC raised its holdings in Steel Dynamics by 3.3% in the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 80 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 12,125 shares of company stock valued at $2,751,227. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Bank of America lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a report on Thursday, April 30th. Barclays assumed coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. Morgan Stanley restated an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $224.64.

Steel Dynamics Trading Down 3.0%

Shares of STLD stock opened at $268.50 on Friday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $280.49. The firm has a fifty day moving average price of $220.99 and a 200-day moving average price of $192.55. 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 company has a market cap of $38.86 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.59 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company’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. As a group, equities analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued 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 0.8%. Steel Dynamics’s dividend payout ratio is currently 22.67%.

About Steel Dynamics

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.