BI Asset Management Fondsmaeglerselskab A S Sells 25,983 Shares of Steel Dynamics, Inc. $STLD

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,367 shares of the basic materials company's stock after selling 25,983 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.09% of Steel Dynamics worth $21,243,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of STLD. NewEdge Advisors LLC lifted its stake in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company's stock valued at $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company's stock worth $435,000 after buying an additional 1,578 shares during the period. Jump Financial LLC purchased a new position in Steel Dynamics in the 2nd quarter valued at approximately $1,019,000. Qube Research & Technologies Ltd bought a new stake in Steel Dynamics during the 2nd quarter valued at $48,746,000. Finally, Sei Investments Co. raised its holdings in Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company's stock valued at $13,447,000 after acquiring an additional 7,712 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Down 3.0%

NASDAQ STLD opened at $268.50 on Friday. 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 has a market capitalization of $38.86 billion, a PE ratio of 28.72, a PEG ratio of 0.59 and a beta of 1.50. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $280.49. The business's 50-day moving average is $220.99 and its 200 day moving average is $192.55.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Steel Dynamics from $235.00 to $293.00 and gave the company an "overweight" rating in a research note on Thursday. BMO Capital Markets lifted their target price on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Weiss Ratings raised Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $192.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Finally, Citigroup upped their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $224.64.

Insider Buying and Selling

In related news, 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 value of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company's stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction that occurred 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 directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,125 shares of company stock valued at $2,751,227 over the last ninety days. 6.60% of the stock is owned by insiders.

Steel Dynamics Company 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.

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