Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,384,526 shares of the basic materials company's stock after buying an additional 253,802 shares during the quarter. Nordea Investment Management AB owned about 0.91% of Steel Dynamics worth $158,487,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in shares of Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company's stock worth $2,376,000 after purchasing an additional 18,647 shares during the period. World Investment Advisors LLC purchased a new position in shares of Steel Dynamics during the third quarter valued at approximately $15,880,000. Envestnet Asset Management Inc. grew its stake in shares of Steel Dynamics by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company's stock valued at $29,904,000 after buying an additional 19,853 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company's stock worth $4,836,000 after buying an additional 6,779 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in shares of Steel Dynamics by 48.0% during the 3rd quarter. iA Global Asset Management Inc. now owns 13,262 shares of the basic materials company's stock worth $1,672,000 after acquiring an additional 4,302 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 price target for the company. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $141.13.

Steel Dynamics Stock Up 1.0 %

Steel Dynamics stock traded up $1.17 during mid-day trading on Tuesday, reaching $119.81. 1,961,293 shares of the company were exchanged, compared to its average volume of 1,890,373. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a market cap of $18.24 billion, a P/E ratio of 10.84 and a beta of 1.36. The business has a fifty day moving average of $132.03 and a 200 day moving average of $126.74. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. During the same period in the prior year, the business posted $3.47 EPS. The firm's quarterly revenue was down 5.4% on a year-over-year basis. Research analysts anticipate that Steel Dynamics, Inc. will post 10.09 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, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. Steel Dynamics's payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock worth $3,885,938 over the last three months. Corporate insiders own 6.00% of the company's stock.

Steel Dynamics 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.