Steel Dynamics, Inc. $STLD Shares Purchased by Swedbank AB

Swedbank AB raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,343 shares of the basic materials company’s stock after purchasing an additional 10,307 shares during the period. Swedbank AB owned about 0.16% of Steel Dynamics worth $32,535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $30,000. WPG Advisers LLC bought a new position in Steel Dynamics in the first quarter worth about $32,000. Rosenberg Matthew Hamilton boosted its stake in Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 199 shares during the period. True Wealth Design LLC grew its holdings in shares of Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 177 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by company insiders.

Steel Dynamics Trading Down 1.2%

NASDAQ:STLD opened at $175.06 on Friday. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $178.36. The business has a fifty day moving average of $161.71 and a 200-day moving average of $142.83.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Analysts Set New Price Targets

A number of research firms recently issued reports on STLD. Jefferies Financial Group boosted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Citigroup increased their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.89.

Steel Dynamics Company Profile

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.