BI Asset Management Fondsmaeglerselskab A S Has $21.58 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,170 shares of the basic materials company’s stock after acquiring an additional 22,018 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Steel Dynamics were worth $21,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Steel Dynamics during the fourth quarter worth $336,426,000. Capital Research Global Investors lifted its position in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after buying an additional 815,629 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after buying an additional 548,086 shares during the last quarter. First Trust Advisors LP grew its position in Steel Dynamics by 14.1% in the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock valued at $362,636,000 after acquiring an additional 393,516 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STLD has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price target for the company from $125.00 to $145.00 in a research note on Friday, January 24th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Monday, March 24th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $149.11.

Steel Dynamics Stock Up 0.9 %

Shares of NASDAQ:STLD opened at $118.29 on Friday. The business has a fifty day simple moving average of $125.36 and a 200 day simple moving average of $128.40. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The firm has a market cap of $17.73 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business earned $2.61 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 31st. Steel Dynamics’s dividend payout ratio is currently 20.41%.

About Steel Dynamics

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.