Swedbank AB Purchases 9,462 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Swedbank AB lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,076 shares of the basic materials company’s stock after buying an additional 9,462 shares during the quarter. Swedbank AB’s holdings in Steel Dynamics were worth $24,990,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics in the third quarter worth $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA increased its stake in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group bought a new stake in Steel Dynamics during the 3rd quarter valued at about $61,000. Finally, Quest Partners LLC purchased a new stake in Steel Dynamics in the 3rd quarter valued at about $62,000. 82.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STLD has been the subject of several research analyst reports. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. Citigroup cut their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.38.

Insider Activity

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Up 1.2 %

Shares of STLD stock opened at $130.71 on Friday. The stock’s fifty day moving average price is $126.04 and its 200 day moving average price is $126.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter last year, the company posted $2.61 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. Steel Dynamics’s payout ratio is currently 18.78%.

About Steel Dynamics

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.