Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 14,300 Shares of Steel Dynamics, Inc. $STLD

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,937 shares of the basic materials company’s stock after acquiring an additional 14,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.07% of Steel Dynamics worth $17,629,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of STLD. Jacobi Capital Management LLC grew its position in Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 55 shares in the last quarter. Optas LLC boosted its stake in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 58 shares during the period. Hohimer Wealth Management LLC increased its stake in Steel Dynamics by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after buying an additional 61 shares during the period. Wright Investors Service Inc. increased its stake in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after buying an additional 64 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Steel Dynamics by 2.7% during the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after buying an additional 64 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

STLD opened at $220.39 on Friday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock has a market capitalization of $31.89 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 0.43 and a beta of 1.53. The business’s 50-day simple moving average is $245.84 and its 200-day simple moving average is $204.81.

Steel Dynamics (NASDAQ:STLD) last released 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). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the business earned $1.44 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. Analysts anticipate that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 1.0%. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STLD shares. Barclays initiated coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, KeyCorp raised their target price on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. 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. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $236.36.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,125 shares of company stock valued at $5,438,226. Company insiders own 6.60% of the company’s stock.

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.