PFA Pension Forsikringsaktieselskab Makes New Investment in Steel Dynamics, Inc. $STLD

PFA Pension Forsikringsaktieselskab bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 232,286 shares of the basic materials company’s stock, valued at approximately $39,728,000.

Several other large investors also recently modified their holdings of the company. Optas LLC grew its holdings in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 58 shares during the period. Versant Capital Management Inc grew its holdings in shares of Steel Dynamics by 13.2% in the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 64 shares during the period. Wright Investors Service Inc. grew its holdings in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after acquiring an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Steel Dynamics by 4.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 70 shares during the period. Finally, Choreo LLC grew its holdings in shares of Steel Dynamics by 3.3% in the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 80 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% 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 Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $214.30.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $229.27 on Friday. The stock has a 50-day simple moving average of $190.61 and a two-hundred day simple moving average of $176.99. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $230.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm has a market capitalization of $33.06 billion, a PE ratio of 24.52, a P/E/G ratio of 0.58 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm posted $1.44 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.53 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 31st. Steel Dynamics’s dividend payout ratio is presently 22.67%.

About Steel Dynamics

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.