Tredje AP fonden Lowers Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Tredje AP fonden reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,150 shares of the basic materials company’s stock after selling 568 shares during the quarter. Tredje AP fonden’s holdings in Steel Dynamics were worth $4,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLD. Jump Financial LLC bought a new position in Steel Dynamics in the 4th quarter worth about $271,000. Avantax Advisory Services Inc. lifted its stake in shares of Steel Dynamics by 9.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,101 shares of the basic materials company’s stock worth $366,000 after buying an additional 272 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Steel Dynamics by 9.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 18,934 shares of the basic materials company’s stock valued at $2,236,000 after buying an additional 1,573 shares during the last quarter. Independent Advisor Alliance increased its position in shares of Steel Dynamics by 17.9% during the fourth quarter. Independent Advisor Alliance now owns 2,558 shares of the basic materials company’s stock valued at $302,000 after acquiring an additional 389 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in Steel Dynamics by 11.0% in the 4th quarter. Brown Advisory Inc. now owns 5,112 shares of the basic materials company’s stock worth $604,000 after acquiring an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.6 %

Steel Dynamics stock opened at $115.12 on Thursday. Steel Dynamics, Inc. has a 52-week low of $98.03 and a 52-week high of $151.34. The company has a market cap of $18.09 billion, a P/E ratio of 7.91 and a beta of 1.32. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $120.74 and a two-hundred day simple moving average of $129.24.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.81 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 10.81 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.60%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research note on Tuesday. Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average price target of $141.29.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.