Livforsakringsbolaget Skandia Omsesidigt Has $114,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 350.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900 shares of the basic materials company’s stock after purchasing an additional 700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Steel Dynamics were worth $114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. National Bank of Canada FI grew its holdings in Steel Dynamics by 481.2% during the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after purchasing an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Steel Dynamics by 65.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after acquiring an additional 225,832 shares during the period. Swedbank AB bought a new stake in shares of Steel Dynamics in the first quarter valued at approximately $32,178,000. Acadian Asset Management LLC boosted its position in shares of Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after acquiring an additional 202,312 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $24,670,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of several research reports. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets raised their target price on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus price target of $142.86.

Steel Dynamics Stock Down 1.3 %

Shares of NASDAQ STLD opened at $128.46 on Wednesday. The stock has a market cap of $20.19 billion, a PE ratio of 8.82 and a beta of 1.31. The business has a fifty day moving average of $119.93 and a two-hundred day moving average of $127.53. Steel Dynamics, Inc. has a 52-week low of $98.25 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the business earned $4.81 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.43%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.