BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in Steel Dynamics, Inc. $STLD

Key Points

• BI Asset Management increased its stake in Steel Dynamics by 6.2% in the first quarter, bringing its holdings to 133,085 shares worth about $23.96 million.
• Steel Dynamics reported Q1 earnings of $2.78 per share, narrowly missing estimates, while revenue rose 19.1% year over year to $5.20 billion.
• The company announced a quarterly dividend of $0.53 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $227.18.

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,085 shares of the basic materials company's stock after purchasing an additional 7,718 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of Steel Dynamics worth $23,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in STLD. Jacobi Capital Management LLC increased its holdings in shares of Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company's stock worth $599,000 after purchasing an additional 55 shares during the last quarter. Optas LLC boosted its stake in Steel Dynamics by 3.0% during the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after buying an additional 58 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company's stock valued at $967,000 after buying an additional 61 shares during the last quarter. Wright Investors Service Inc. grew its holdings in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after buying an additional 64 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Steel Dynamics by 4.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock valued at $246,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $249.91 on Friday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock's 50 day simple moving average is $239.04 and its two-hundred day simple moving average is $200.11. The company has a market cap of $36.17 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics's revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 15.67 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics's dividend payout ratio (DPR) is currently 22.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STLD shares. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Morgan Stanley restated an "underperform" rating and issued a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Bank of America dropped their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a "neutral" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $227.18.

Insider Activity

In other news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares of the company's stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,125 shares of company stock valued at $5,438,226 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

About Steel Dynamics

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.

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