Steel Dynamics, Inc. $STLD Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.9% during the first quarter, Holdings Channel reports. The institutional investor owned 214,889 shares of the basic materials company’s stock after selling 18,444 shares during the period. Swedbank AB’s holdings in Steel Dynamics were worth $38,680,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in STLD. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the fourth quarter worth approximately $27,000. Sound Income Strategies LLC lifted its position in Steel Dynamics by 1,500.0% in the fourth 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 period. DV Equities LLC bought a new position in Steel Dynamics during the 4th quarter valued at $33,000. Finally, Torren Management LLC bought a new position in Steel Dynamics during the 4th quarter valued at $34,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.4%

Shares of NASDAQ:STLD opened at $228.76 on Thursday. 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 company has a market cap of $33.11 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The firm has a 50 day simple moving average of $246.02 and a 200 day simple moving average of $206.25.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, research analysts expect that Steel Dynamics, Inc. will post 16.78 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is currently 22.67%.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. Wells Fargo & Company decreased their target price on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Finally, Barclays started coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $236.36.

Insiders Place Their Bets

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the firm’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 directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is owned by corporate insiders.

Steel Dynamics Company Profile

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.