Tredje AP fonden Has $2.06 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Tredje AP fonden trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,075 shares of the basic materials company’s stock after selling 18,075 shares during the quarter. Tredje AP fonden’s holdings in Steel Dynamics were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in STLD. Atria Investments Inc lifted its holdings in shares of Steel Dynamics by 30.8% during the 3rd quarter. Atria Investments Inc now owns 18,335 shares of the basic materials company’s stock valued at $2,312,000 after buying an additional 4,319 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Steel Dynamics by 4.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,531 shares of the basic materials company’s stock valued at $319,000 after buying an additional 110 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Steel Dynamics by 2.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company’s stock valued at $636,000 after buying an additional 99 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $379,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Steel Dynamics by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 266,499 shares of the basic materials company’s stock valued at $33,600,000 after buying an additional 10,758 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of several analyst reports. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. UBS Group restated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Tuesday, February 11th. Finally, Citigroup reduced their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.56.

Steel Dynamics Stock Performance

STLD opened at $127.14 on Friday. The stock has a market cap of $19.09 billion, a PE ratio of 12.97, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The stock’s 50 day simple moving average is $127.38 and its 200-day simple moving average is $127.77.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the firm earned $2.61 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.57%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio is 20.41%.

Steel Dynamics Company 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.