Tredje AP fonden Has $2.06 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Tredje AP fonden reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,075 shares of the basic materials company's stock after selling 18,075 shares during the period. Tredje AP fonden's holdings in Steel Dynamics were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in STLD. Commerce Bank raised its holdings in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after acquiring an additional 73 shares in the last quarter. M&T Bank Corp raised its holdings in Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company's stock valued at $1,267,000 after acquiring an additional 88 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock valued at $220,000 after acquiring an additional 91 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in 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 acquiring an additional 99 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in Steel Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $366,000 after acquiring an additional 101 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

STLD stock traded up $1.43 during midday trading on Wednesday, reaching $128.52. 1,889,082 shares of the stock were exchanged, compared to its average volume of 1,838,995. The company has a fifty day moving average price of $127.65 and a 200 day moving average price of $127.98. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The stock has a market capitalization of $19.30 billion, a PE ratio of 13.11, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results 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 net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the business posted $2.61 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal 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 firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.56%. Steel Dynamics's dividend payout ratio is presently 20.41%.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of research analyst reports. Morgan Stanley raised Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $145.00 to $158.00 in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They set a "neutral" rating and a $155.00 price target for the company. Finally, KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.56.

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.