Forsta AP Fonden Boosts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Forsta AP Fonden raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,400 shares of the basic materials company’s stock after buying an additional 2,200 shares during the quarter. Forsta AP Fonden’s holdings in Steel Dynamics were worth $3,959,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Atomi Financial Group Inc. increased its position in Steel Dynamics by 3.1% in the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 79 shares during the last quarter. Csenge Advisory Group increased its holdings in shares of Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after buying an additional 81 shares during the last quarter. Dorsey Wright & Associates increased its holdings in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after acquiring an additional 96 shares during the last quarter. Finally, Stiles Financial Services Inc lifted its holdings in shares of Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after acquiring an additional 99 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STLD. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets upped their price target 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Stock Down 0.4 %

Shares of STLD opened at $135.16 on Wednesday. The firm has a fifty day moving average price of $122.98 and a 200-day moving average price of $126.57. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $20.86 billion, a P/E ratio of 12.23 and a beta of 1.31. Steel Dynamics, Inc. has a 12-month low of $102.86 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.36%. Steel Dynamics’s payout ratio is currently 16.65%.

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.