Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 18,908 Shares of Steel Dynamics, Inc. $STLD

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 83,637 shares of the basic materials company’s stock after purchasing an additional 18,908 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Steel Dynamics were worth $14,172,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Fisher Asset Management LLC increased its position in shares of Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after acquiring an additional 11,183 shares in the last quarter. Strs Ohio raised its holdings in shares of Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after acquiring an additional 10,519 shares during the period. Concentric Capital Strategies LP bought a new stake in Steel Dynamics in the 3rd quarter valued at $24,349,000. Robeco Institutional Asset Management B.V. boosted its stake in Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ boosted its stake in Steel Dynamics by 16.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock worth $6,680,000 after purchasing an additional 6,738 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $268.50 on Friday. The company has a fifty day moving average price of $220.99 and a two-hundred day moving average price of $192.55. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $280.49. The stock has a market cap of $38.86 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.57 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 released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 earnings per share. As a group, equities analysts predict that Steel Dynamics, Inc. will post 14.77 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. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director owned 31,299 shares in the company, valued at $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were 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. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,125 shares of company stock worth $2,751,227 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STLD. Citigroup lifted their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Finally, BMO Capital Markets increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $224.64.

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.