Royal London Asset Management Ltd. Sells 474,950 Shares of Steel Dynamics, Inc. $STLD

Royal London Asset Management Ltd. decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,526,106 shares of the basic materials company’s stock after selling 474,950 shares during the period. Steel Dynamics comprises 0.5% of Royal London Asset Management Ltd.’s portfolio, making the stock its 26th largest holding. Royal London Asset Management Ltd. owned about 1.04% of Steel Dynamics worth $258,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Optas LLC lifted its holdings in 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 acquiring an additional 58 shares during the period. Hohimer Wealth Management LLC raised its stake in Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after purchasing an additional 61 shares during the last quarter. Wright Investors Service Inc. raised its stake in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after purchasing an additional 64 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Steel Dynamics by 4.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 70 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Steel Dynamics by 22.2% during the 4th quarter. Root Financial Partners LLC now owns 424 shares of the basic materials company’s stock valued at $72,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.1%

Shares of NASDAQ STLD opened at $282.76 on Friday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $285.88. The stock has a market cap of $40.92 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 0.57 and a beta of 1.50. The business has a 50 day simple moving average of $230.74 and a 200 day simple moving average of $196.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics, Inc. will post 15.32 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given 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 dividend yield of 0.7%. Steel Dynamics’s payout ratio is currently 22.67%.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction 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 owned 102,837 shares in the company, valued at $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,125 shares of company stock valued at $5,438,227. Company insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STLD. Morgan Stanley restated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Citigroup upped their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Barclays initiated coverage on Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective on the stock. Wells Fargo & Company increased their price objective on Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.64.

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.