Handelsbanken Fonder AB Has $10.23 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Handelsbanken Fonder AB increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 19.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,600 shares of the basic materials company’s stock after purchasing an additional 7,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Steel Dynamics were worth $10,234,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in STLD. Prosperity Bancshares Inc bought a new stake in Steel Dynamics during the fourth quarter worth about $25,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics in the 4th quarter worth approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in Steel Dynamics during the 1st quarter worth approximately $31,000. DV Equities LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at $33,000. Finally, Torren Management LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at $34,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $260.53 on Friday. The stock has a market capitalization of $37.34 billion, a P/E ratio of 23.62, a P/E/G ratio of 0.50 and a beta of 1.52. Steel Dynamics, Inc. has a 1-year low of $124.77 and a 1-year high of $288.74. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $248.93 and a two-hundred day moving average price of $219.91.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the company posted $2.01 EPS. The company’s revenue was up 33.4% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. Barclays raised their target price on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup upped their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They set a “buy” rating and a $300.00 price target on the stock. Finally, UBS Group raised their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.09.

Steel Dynamics 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.