Skandinaviska Enskilda Banken AB publ Acquires 2,457 Shares of Steel Dynamics, Inc. $STLD

Skandinaviska Enskilda Banken AB publ increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,968 shares of the basic materials company’s stock after acquiring an additional 2,457 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Steel Dynamics were worth $4,476,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in shares of Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH bought a new stake in Steel Dynamics during the second quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in Steel Dynamics in the 1st quarter valued at $32,000. WPG Advisers LLC bought a new position in Steel Dynamics during the 1st quarter valued at $32,000. Finally, Rosenberg Matthew Hamilton lifted its stake in Steel Dynamics by 306.2% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Trading Up 0.8%

Shares of STLD stock opened at $167.88 on Monday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The firm has a market cap of $24.52 billion, a P/E ratio of 22.24, a PEG ratio of 1.39 and a beta of 1.45. The company has a 50 day moving average of $150.65 and a 200-day moving average of $137.65. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $168.36.

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

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research note on Tuesday, November 4th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Morgan Stanley lifted their target price on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. KeyCorp upped their target price on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Wells Fargo & Company increased their price target on Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $170.44.

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.