Nykredit A S Acquires New Holdings in Steel Dynamics, Inc. $STLD

Nykredit A S bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, Holdings Channel.com reports. The institutional investor bought 43,150 shares of the basic materials company’s stock, valued at approximately $9,901,000.

Several other large investors also recently added to or reduced their stakes in STLD. BlackRock Inc. bought a new position in shares of Steel Dynamics during the 2nd quarter valued at $2,844,501,000. Capital Research Global Investors boosted its holdings in Steel Dynamics by 0.3% in the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after purchasing an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Steel Dynamics in the fourth quarter worth $586,702,000. Norges Bank acquired a new position in Steel Dynamics during the fourth quarter worth $564,590,000. Finally, Invesco Ltd. increased its position in Steel Dynamics by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after buying an additional 116,379 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on STLD shares. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, August 24th. Morgan Stanley reduced their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Wednesday, July 29th. They set a “buy” rating and a $300.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.27.

Steel Dynamics Stock Down 1.6%

NASDAQ STLD opened at $242.06 on Friday. The firm has a 50-day simple moving average of $241.46 and a 200 day simple moving average of $225.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The stock has a market cap of $34.69 billion, a PE ratio of 21.95, a PEG ratio of 0.46 and a beta of 1.50. Steel Dynamics, Inc. has a twelve month low of $129.41 and a twelve month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. On average, research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s payout ratio is presently 19.22%.

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.