Swedbank AB Has $28.55 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Swedbank AB increased its stake in Steel Dynamics, Inc. by 4.6% during the second quarter, acquiring an additional 9,874 shares for a total ownership of about 0.15% valued at $28,551,000.
• Steel Dynamics reported a quarterly earnings per share (EPS) of $2.01, missing the estimated $2.05, and reported a year-over-year revenue decline of 1.5%.
• The company recently declared a quarterly dividend of $0.50, representing an annualized yield of 1.4%, with a dividend payout ratio of 29.15%.

Swedbank AB raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,036 shares of the basic materials company's stock after buying an additional 9,874 shares during the quarter. Swedbank AB owned 0.15% of Steel Dynamics worth $28,551,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STLD. Financial Gravity Asset Management Inc. purchased a new stake in Steel Dynamics during the first quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after buying an additional 163 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in Steel Dynamics during the first quarter valued at about $32,000. WPG Advisers LLC purchased a new stake in Steel Dynamics during the first quarter valued at about $32,000. Finally, Grove Bank & Trust lifted its stake in Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after buying an additional 183 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Morgan Stanley increased their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Wells Fargo & Company increased their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $149.40.

Steel Dynamics Stock Performance

Shares of STLD traded down $0.57 during mid-day trading on Friday, hitting $139.27. The company's stock had a trading volume of 2,810,449 shares, compared to its average volume of 1,187,503. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40. The stock's 50-day moving average is $129.77 and its two-hundred day moving average is $128.27.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.72 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.