Swedbank AB Purchases 798 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Swedbank AB grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,614 shares of the basic materials company’s stock after purchasing an additional 798 shares during the quarter. Swedbank AB owned about 0.14% of Steel Dynamics worth $26,428,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STLD. Integrated Advisors Network LLC bought a new position in Steel Dynamics in the 4th quarter worth $447,000. Fisher Asset Management LLC raised its holdings in Steel Dynamics by 6.1% in the 4th quarter. Fisher Asset Management LLC now owns 60,833 shares of the basic materials company’s stock worth $7,184,000 after purchasing an additional 3,494 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Steel Dynamics by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock worth $1,993,000 after purchasing an additional 1,917 shares in the last quarter. CWM LLC raised its holdings in Steel Dynamics by 4.3% in the 1st quarter. CWM LLC now owns 4,456 shares of the basic materials company’s stock worth $661,000 after purchasing an additional 182 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Steel Dynamics by 9.9% in the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 145 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Up 1.1 %

STLD stock opened at $129.86 on Thursday. The firm has a fifty day moving average price of $120.15 and a 200 day moving average price of $127.55. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market cap of $20.41 billion, a PE ratio of 8.92 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.81 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley reduced their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $142.86.

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.