BI Asset Management Fondsmaeglerselskab A S Acquires 7,718 Shares of Steel Dynamics, Inc. $STLD

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,085 shares of the basic materials company’s stock after buying an additional 7,718 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Steel Dynamics were worth $23,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prosperity Bancshares Inc purchased a new position in Steel Dynamics during the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the fourth quarter worth $27,000. Sound Income Strategies LLC increased its stake in Steel Dynamics by 1,500.0% in 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 period. DV Equities LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $33,000. Finally, Torren Management LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $34,000. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STLD. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday. Barclays began coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.18.

Insider Buying and Selling at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% 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 valued at $5,438,226 in the last 90 days. Insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD stock opened at $249.91 on Friday. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The stock has a market capitalization of $36.17 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 0.50 and a beta of 1.50. The stock has a fifty day simple moving average of $239.04 and a two-hundred day simple moving average of $200.11. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results 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 firm had revenue of $5.20 billion for 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%.Steel Dynamics’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 15.67 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 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.