Tredje AP fonden Sells 4,641 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Tredje AP fonden cut its Steel Dynamics stake by 15.1% in the fourth quarter, selling 4,641 shares and leaving it with 26,047 shares valued at about $4.41 million.
• Several other institutional investors also adjusted positions in STLD, and the stock remains heavily held by institutions overall, with 82.41% owned by institutional investors.
• Steel Dynamics has seen a mix of analyst views: the consensus rating is Hold with a $214.30 price target, while recent insider sales totaled 12,125 shares over the past three months.

Tredje AP fonden trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,047 shares of the basic materials company's stock after selling 4,641 shares during the period. Tredje AP fonden's holdings in Steel Dynamics were worth $4,414,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STLD. Sound Income Strategies LLC raised its stake in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after buying an additional 150 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company's stock worth $27,000 after acquiring an additional 180 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth $34,000. Nvest Wealth Strategies Inc. bought a new position in shares of Steel Dynamics during the fourth quarter valued at $42,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth about $45,000. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STLD. Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Bank of America cut shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 target price for the company. in a report on Thursday, April 30th. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Morgan Stanley reiterated an "underperform" rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $214.30.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 sale, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,125 shares of company stock worth $2,751,227 in the last three months. Insiders own 6.60% of the company's stock.

Steel Dynamics Stock Performance

STLD stock opened at $223.37 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $243.73. The company has a market cap of $32.33 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. The stock's fifty day moving average price is $199.56 and its 200-day moving average price is $183.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate 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 was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Dividend Announcement

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

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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