Nordea Investment Management AB Has $361.78 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Nordea Investment Management AB reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,140,819 shares of the basic materials company’s stock after selling 199,661 shares during the period. Nordea Investment Management AB’s holdings in Steel Dynamics were worth $361,777,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STLD. Cornerstone Planning Group LLC increased its stake in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares in the last quarter. Covestor Ltd grew its position in Steel Dynamics by 44.3% in the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. CNB Bank acquired a new position in Steel Dynamics during the third quarter worth about $43,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Steel Dynamics in the third quarter worth about $46,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a research report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday. Finally, KeyCorp reissued an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research note on Wednesday, January 7th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $182.44.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $163.95 on Friday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $23.75 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 0.45 and a beta of 1.43. The stock has a fifty day simple moving average of $184.68 and a 200 day simple moving average of $165.38. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47.

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

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st 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 1.3%. The ex-dividend date is Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is currently 24.97%.

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.