Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Trimmed by Tredje AP fonden

Tredje AP fonden reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,075 shares of the basic materials company’s stock after selling 18,075 shares during the quarter. Tredje AP fonden’s holdings in Steel Dynamics were worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Atria Investments Inc increased its holdings in Steel Dynamics by 30.8% in the third quarter. Atria Investments Inc now owns 18,335 shares of the basic materials company’s stock valued at $2,312,000 after buying an additional 4,319 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Steel Dynamics by 4.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,531 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 110 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Steel Dynamics by 2.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 99 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $379,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Steel Dynamics by 4.2% during the third quarter. Victory Capital Management Inc. now owns 266,499 shares of the basic materials company’s stock valued at $33,600,000 after purchasing an additional 10,758 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on STLD. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and upped their target price for the company from $125.00 to $145.00 in a report on Friday, January 24th. UBS Group reaffirmed a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $158.00 in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $132.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.56.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated 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 transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $127.14 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $127.38 and its two-hundred day moving average price is $127.77. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The stock has a market cap of $19.09 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the firm earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.57%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

Steel Dynamics declared that its Board of Directors has authorized a share buyback program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.