Handelsinvest Investeringsforvaltning Has $497,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Handelsinvest Investeringsforvaltning cut its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 34.2% during the first quarter, Holdings Channel reports. The institutional investor owned 3,350 shares of the basic materials company’s stock after selling 1,739 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Steel Dynamics were worth $497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in STLD. Royal London Asset Management Ltd. raised its stake in shares of Steel Dynamics by 0.3% in the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock valued at $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley increased its holdings in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after buying an additional 19,833 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after buying an additional 1,255,751 shares in the last quarter. Norges Bank bought a new position in shares of Steel Dynamics during the 4th quarter worth about $221,817,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock valued at $159,969,000 after acquiring an additional 21,143 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Bank of America dropped their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets dropped their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Finally, Jefferies Financial Group started coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $129.63.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $129.76 on Wednesday. The business has a fifty day moving average of $130.00 and a 200-day moving average of $128.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34. The firm has a market cap of $20.39 billion, a PE ratio of 8.81 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $4.01 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. On average, equities research analysts predict that Steel Dynamics, Inc. will post 11.64 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s payout ratio is 12.64%.

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.