Nykredit A S Acquires Shares of 43,150 Steel Dynamics, Inc. $STLD

Key Points

• Nykredit A/S bought 43,150 shares of Steel Dynamics during the second quarter, valued at approximately $9.9 million. Institutional investors and hedge funds collectively own 82.41% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $257.27.
• Steel Dynamics exceeded quarterly expectations, reporting $3.69 in earnings per share and $6.09 billion in revenue, while revenue rose 33.4% year over year. The company also declared a quarterly dividend of $0.53 per share.

Nykredit A S purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 43,150 shares of the basic materials company's stock, valued at approximately $9,901,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Canada Post Corp Registered Pension Plan boosted its holdings in shares of Steel Dynamics by 70.5% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company's stock valued at $1,981,000 after acquiring an additional 4,835 shares in the last quarter. Sapient Capital LLC grew its holdings in shares of Steel Dynamics by 34.6% in the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company's stock worth $102,958,000 after acquiring an additional 115,080 shares during the last quarter. Ethic Inc. raised its position in shares of Steel Dynamics by 56.5% during the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company's stock worth $3,143,000 after purchasing an additional 6,695 shares during the period. Donoghue Forlines LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $2,268,000. Finally, Sierra Summit Advisors LLC lifted its holdings in shares of Steel Dynamics by 1,894.7% during the fourth quarter. Sierra Summit Advisors LLC now owns 62,334 shares of the basic materials company's stock valued at $10,562,000 after purchasing an additional 59,209 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STLD has been the topic of a number of analyst reports. Weiss Ratings raised Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Morgan Stanley decreased their target price on shares of Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Bank of America cut their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. KeyCorp restated an "overweight" rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Finally, UBS Group raised their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $257.27.

Steel Dynamics Stock Performance

STLD stock opened at $242.06 on Friday. The firm has a 50 day simple moving average of $241.46 and a 200 day simple moving average of $225.03. Steel Dynamics, Inc. has a 52 week low of $129.41 and a 52 week high of $288.74. The stock has a market cap of $34.69 billion, a P/E ratio of 21.95, a P/E/G ratio of 0.46 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. Research analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics's payout ratio is 19.22%.

Steel Dynamics 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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