BI Asset Management Fondsmaeglerselskab A S Acquires 22,018 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 189,170 shares of the basic materials company’s stock after acquiring an additional 22,018 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.12% of Steel Dynamics worth $21,579,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics during the third quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the 4th quarter worth approximately $28,000. IAG Wealth Partners LLC bought a new position in Steel Dynamics during the 4th quarter worth approximately $39,000. Avalon Trust Co acquired a new position in Steel Dynamics during the fourth quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new stake in Steel Dynamics in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STLD. Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $145.00 to $158.00 in a report on Friday, March 7th. Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $140.00 to $135.00 and set a “neutral” rating on the stock in a research report on Wednesday. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a report on Tuesday, February 11th. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.11.

Steel Dynamics Price Performance

Shares of STLD opened at $118.29 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The stock has a market capitalization of $17.73 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a 50 day moving average of $125.36 and a 200-day moving average of $128.40.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the company posted $2.61 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics announced that its Board of Directors has approved a share repurchase plan on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.69%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.