Swiss Life Asset Management Ltd Increases Stake in Steel Dynamics, Inc. $STLD

Key Points

• Swiss Life Asset Management boosted its stake in Steel Dynamics by 17.6% in the fourth quarter, bringing its holdings to 42,376 shares valued at about $7.18 million.
• Steel Dynamics reported Q1 earnings of $2.78 per share, narrowly missing estimates, while revenue came in at $5.20 billion versus expectations of $5.39 billion. Revenue still rose 19.1% year over year.
• The company announced a quarterly dividend of $0.53 per share, payable July 10, and shares were also lifted by analyst activity and trading, with the stock opening at $237.08 and near its 52-week high.

Swiss Life Asset Management Ltd grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,376 shares of the basic materials company's stock after purchasing an additional 6,336 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Steel Dynamics were worth $7,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STLD. NewEdge Wealth LLC bought a new stake in Steel Dynamics during the 4th quarter valued at $371,000. Denali Advisors LLC grew its holdings in Steel Dynamics by 56.2% in the 4th quarter. Denali Advisors LLC now owns 5,017 shares of the basic materials company's stock worth $850,000 after acquiring an additional 1,806 shares during the last quarter. Chesapeake Capital Corp IL increased its position in shares of Steel Dynamics by 31.2% in the fourth quarter. Chesapeake Capital Corp IL now owns 3,654 shares of the basic materials company's stock valued at $619,000 after acquiring an additional 868 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Steel Dynamics by 11.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 8,597 shares of the basic materials company's stock valued at $1,457,000 after acquiring an additional 896 shares during the last quarter. Finally, Ethic Inc. raised its stake 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 valued at $3,143,000 after acquiring an additional 6,695 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Up 1.8%

STLD stock opened at $237.08 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $243.73. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48. The business's 50 day moving average price is $196.49 and its two-hundred day moving average price is $181.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics's payout ratio is 22.67%.

Insiders Place Their Bets

In other news, Director Kenneth W. Cornew sold 5,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director directly owned 31,299 shares of the company's stock, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the senior vice president owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on STLD shares. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Citigroup upped their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, Bank of America lowered Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price target for the company. in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Hold" and an average 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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