Fjarde AP Fonden Fourth Swedish National Pension Fund Has $14.17 Million Stake in Steel Dynamics, Inc. $STLD

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,637 shares of the basic materials company’s stock after purchasing an additional 18,908 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of Steel Dynamics worth $14,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC raised its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Torren Management LLC bought a new position in Steel Dynamics in the 4th quarter valued at $34,000. Nvest Wealth Strategies Inc. bought a new position in Steel Dynamics in the 4th quarter valued at $42,000. Eagle Bay Advisors LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $45,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Steel Dynamics during the third quarter worth $46,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 3.0%

NASDAQ:STLD opened at $268.50 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $280.49. The stock’s fifty day simple moving average is $220.99 and its 200-day simple moving average is $192.55. The firm has a market capitalization of $38.86 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.57 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share 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 during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company posted $1.44 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will post 14.77 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, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STLD shares. Citigroup upped their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley reissued an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price on the stock. in a research report on Thursday, April 30th. Finally, BMO Capital Markets lifted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average target price of $224.64.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is currently owned by company insiders.

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.