Mn Services Vermogensbeheer B.V. Increases Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,100 shares of the basic materials company’s stock after acquiring an additional 1,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Steel Dynamics were worth $3,091,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Holocene Advisors LP grew its stake in shares of Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after buying an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after buying an additional 548,086 shares during the period. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Steel Dynamics by 192.4% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock valued at $28,577,000 after buying an additional 164,895 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $15,880,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 directly owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is owned by company insiders.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $135.07 on Friday. The firm has a market cap of $20.56 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. 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’s 50 day moving average is $125.39 and its two-hundred day moving average is $127.37.

Steel Dynamics (NASDAQ:STLD) last released 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 quarter last year, the business earned $2.61 EPS. On average, research 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 share buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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 dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. 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 yield of 1.48%. Steel Dynamics’s dividend payout ratio is 20.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their price target for the company from $125.00 to $145.00 in a research note on Friday, January 24th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average price target of $146.22.

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.