Danske Bank A S Raises Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Danske Bank A/S raised its stake in Steel Dynamics by 7.5% in Q4 to 275,625 shares (about $46.7 million), and institutional investors now own roughly 82.41% of the company.
• Steel Dynamics slightly missed Q1 estimates—EPS $2.78 vs. $2.79 and revenue $5.20B vs. $5.39B—though revenue was up 19.1% year‑over‑year; the consensus analyst rating is "Hold" with a $214.30 target amid mixed upgrades and downgrades.
• The company increased its quarterly dividend to $0.53 (annualized $2.12, yield 0.9%), while recent insider sales reduced some executives' holdings and insiders now own about 6.60% of the stock.

Danske Bank A S increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 275,625 shares of the basic materials company's stock after acquiring an additional 19,282 shares during the quarter. Danske Bank A S owned approximately 0.19% of Steel Dynamics worth $46,705,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Nordea Investment Management AB raised its stake in shares of Steel Dynamics by 12.1% during the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company's stock worth $322,518,000 after purchasing an additional 252,108 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock valued at $340,289,000 after buying an additional 72,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company's stock worth $145,953,000 after buying an additional 10,537 shares during the last quarter. Bank of America Corp DE increased its holdings in Steel Dynamics by 34.7% during the second quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company's stock worth $131,715,000 after buying an additional 264,827 shares during the last quarter. Finally, Boston Partners bought a new stake in Steel Dynamics in the third quarter worth about $101,254,000. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $229.27 on Friday. The firm has a market cap of $33.06 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $190.61 and its 200-day moving average is $176.78. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $230.94.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the business posted $1.44 earnings per share. The firm's quarterly revenue was up 19.1% on a year-over-year basis. Sell-side analysts predict that Steel Dynamics, Inc. will post 14.47 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is an increase from Steel Dynamics's previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics's dividend payout ratio is 22.67%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Bank of America downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 target price for the company. in a research report on Thursday. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Weiss Ratings raised Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, Citigroup boosted their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $214.30.

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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