Swedbank AB Has $26.66 Million Stake in Steel Dynamics, Inc. $STLD

Key Points

• Swedbank AB reduced its holdings in Steel Dynamics, Inc. by 2.7% in Q1, now owning 213,162 shares valued at $26.66 million after selling 5,914 shares.
• Insider transaction reveals that SVP Christopher A. Graham sold 12,000 shares, reducing his position by 15.24% with a total sale value of over $1.5 million.
• Analysts have a positive outlook on Steel Dynamics, with several firms upgrading ratings and increasing target prices, indicating strong investor interest.

Swedbank AB lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 213,162 shares of the basic materials company's stock after selling 5,914 shares during the quarter. Swedbank AB owned approximately 0.14% of Steel Dynamics worth $26,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Forum Financial Management LP boosted its stake in shares of Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after buying an additional 75 shares during the period. Hemington Wealth Management boosted its stake in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock valued at $39,000 after buying an additional 84 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after buying an additional 91 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock valued at $63,000 after buying an additional 100 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Steel Dynamics by 6.3% in the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $149.40.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of the 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 $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by insiders.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD traded up $3.28 during trading on Thursday, hitting $140.13. 585,776 shares of the company were exchanged, compared to its average volume of 1,574,234. The business's 50 day moving average is $129.64 and its 200-day moving average is $128.11. The company has a market capitalization of $20.63 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.14 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.72 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. Steel Dynamics's dividend payout ratio is 29.15%.

About Steel Dynamics

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.