Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 73.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,866 shares of the basic materials company's stock after selling 175,194 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Steel Dynamics were worth $7,271,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in STLD. Prime Capital Investment Advisors LLC grew its position in shares of Steel Dynamics by 2.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company's stock valued at $636,000 after buying an additional 99 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Steel Dynamics by 4.2% in the third quarter. Victory Capital Management Inc. now owns 266,499 shares of the basic materials company's stock valued at $33,600,000 after acquiring an additional 10,758 shares in the last quarter. Metis Global Partners LLC boosted its stake in Steel Dynamics by 18.3% in the third quarter. Metis Global Partners LLC now owns 16,314 shares of the basic materials company's stock valued at $2,057,000 after acquiring an additional 2,527 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Steel Dynamics by 6.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,924 shares of the basic materials company's stock worth $621,000 after purchasing an additional 278 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Steel Dynamics by 5.0% during the third quarter. CIBC Asset Management Inc now owns 23,239 shares of the basic materials company's stock worth $2,930,000 after purchasing an additional 1,109 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STLD shares. Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and raised their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $145.00 to $158.00 in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Finally, UBS Group reaffirmed a "neutral" rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.56.

Steel Dynamics Stock Performance

NASDAQ STLD traded up $1.43 during trading hours on Wednesday, hitting $128.52. 1,888,871 shares of the stock were exchanged, compared to its average volume of 1,366,599. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The stock has a 50-day moving average of $127.65 and a 200 day moving average of $127.98.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (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 in the previous year, the company earned $2.61 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio (DPR) is 20.41%.

Steel Dynamics announced that its Board of Directors has approved a stock buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction dated 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 completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.00% of the company's stock.

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.