Czech National Bank Purchases 1,468 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Czech National Bank increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.0% during the fourth quarter, HoldingsChannel reports. The fund owned 30,700 shares of the basic materials company’s stock after buying an additional 1,468 shares during the quarter. Czech National Bank’s holdings in Steel Dynamics were worth $3,502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the period. World Investment Advisors LLC bought a new position in shares of Steel Dynamics during the third quarter valued at $15,880,000. Envestnet Asset Management Inc. lifted its holdings in shares of Steel Dynamics by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after purchasing an additional 19,853 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after purchasing an additional 6,779 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $125.18 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The firm has a 50 day moving average of $130.63 and a 200-day moving average of $126.50. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 11.33 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.47 earnings per share. On average, equities analysts forecast that Steel Dynamics, Inc. will post 10.09 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent research reports. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group dropped their price target on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $141.13.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.10% of the stock is owned by company insiders.

About Steel Dynamics

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.