Lansforsakringar Fondforvaltning AB publ Purchases 6,738 Shares of Steel Dynamics, Inc. $STLD

Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,912 shares of the basic materials company’s stock after acquiring an additional 6,738 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Steel Dynamics were worth $6,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STLD. State Street Corp raised its holdings in shares of Steel Dynamics by 3.3% in the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock valued at $938,196,000 after purchasing an additional 230,582 shares during the period. Norges Bank bought a new stake in Steel Dynamics in the second quarter valued at approximately $339,769,000. Nordea Investment Management AB raised its stake in Steel Dynamics by 12.1% in the third quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after buying an additional 252,108 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Steel Dynamics by 15.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock valued at $269,947,000 after buying an additional 260,104 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Steel Dynamics by 0.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock worth $180,620,000 after acquiring an additional 5,317 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $190.87 on Wednesday. The firm has a 50-day moving average price of $181.27 and a two-hundred day moving average price of $158.84. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The company has a market capitalization of $27.87 billion, a P/E ratio of 23.83, a P/E/G ratio of 0.53 and a beta of 1.46. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 annualized dividend and a yield of 1.1%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is presently 24.97%.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a report on Friday, October 31st. KeyCorp reissued an “overweight” rating and issued a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. Finally, UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $182.00.

About Steel Dynamics

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.