PensionDanmark Pensionsforsikringsaktieselskab Purchases 7,837 Shares of Steel Dynamics, Inc. $STLD

Key Points

• PensionDanmark increased its Steel Dynamics stake by 83.8% in the second quarter, purchasing 7,837 additional shares and bringing its holdings to 17,187 shares valued at approximately $3.94 million.
• Institutional investors own 82.41% of Steel Dynamics, with Qube Research & Technologies making a new investment valued at nearly $48.7 million during the quarter.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $249, while Steel Dynamics recently exceeded quarterly earnings expectations and reported 33.4% year-over-year revenue growth.

PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 83.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,187 shares of the basic materials company's stock after buying an additional 7,837 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Steel Dynamics were worth $3,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STLD. NewEdge Advisors LLC increased its position in shares of Steel Dynamics by 307.5% during the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company's stock valued at $102,000 after acquiring an additional 618 shares during the last quarter. Acadian Asset Management LLC boosted its position in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company's stock worth $435,000 after purchasing an additional 1,578 shares during the last quarter. Jump Financial LLC bought a new position in Steel Dynamics in the 2nd quarter valued at $1,019,000. Qube Research & Technologies Ltd bought a new position in Steel Dynamics in the 2nd quarter valued at $48,746,000. Finally, Sei Investments Co. increased its position in shares of 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 purchasing an additional 7,712 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STLD. Bank of America lowered their target price on Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Morgan Stanley decreased their price objective 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. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Barclays boosted their target price on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and a consensus price target of $249.00.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company's stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is owned by company insiders.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $262.45 on Monday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The business's fifty day moving average price is $249.51 and its 200-day moving average price is $217.49. The stock has a market capitalization of $37.62 billion, a PE ratio of 23.79, a P/E/G ratio of 0.50 and a beta of 1.52.

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

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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