Legal & General Group Plc Has $123.16 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Legal & General Group Plc cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 726,820 shares of the basic materials company’s stock after selling 100,533 shares during the quarter. Legal & General Group Plc’s holdings in Steel Dynamics were worth $123,160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lingohr Asset Management GmbH grew its holdings in Steel Dynamics by 1,284.8% during the 3rd quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock worth $5,636,000 after acquiring an additional 37,504 shares during the period. Mediolanum International Funds Ltd boosted its holdings in Steel Dynamics by 157.2% during the third quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock worth $28,629,000 after buying an additional 125,981 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after buying an additional 11,183 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Steel Dynamics by 156.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 15,935 shares of the basic materials company’s stock worth $2,222,000 after buying an additional 9,717 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after buying an additional 10,519 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on STLD shares. Citigroup lifted their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a report on Thursday, April 30th. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, KeyCorp lifted their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $219.36.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $260.75 on Friday. The firm has a market cap of $37.74 billion, a PE ratio of 27.89, a PEG ratio of 0.55 and a beta of 1.48. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $261.84. The company has a fifty day moving average price of $208.92 and a 200 day moving average price of $187.99.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion during 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 quarter in the previous year, the firm posted $1.44 EPS. Research analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 31,299 shares in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,125 shares of company stock worth $2,751,227. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics 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.