Nomura Asset Management Co. Ltd. Trims Holdings in Steel Dynamics, Inc. $STLD

Nomura Asset Management Co. Ltd. decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 77,557 shares of the basic materials company’s stock after selling 10,957 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Steel Dynamics were worth $13,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its stake in shares of Steel Dynamics by 47.2% during the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after purchasing an additional 11,183 shares during the last quarter. Strs Ohio lifted its stake in shares of Steel Dynamics by 7.3% during the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after purchasing an additional 10,519 shares during the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth $24,349,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Steel Dynamics by 16.4% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock worth $6,680,000 after purchasing an additional 6,738 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the transaction, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the transaction, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,125 shares of company stock worth $2,751,227 over the last three months. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley restated an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Barclays started coverage on Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Finally, KeyCorp increased their price target on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $219.36.

Steel Dynamics Trading Up 3.8%

Steel Dynamics stock opened at $271.41 on Wednesday. The stock has a 50-day moving average of $212.63 and a two-hundred day moving average of $189.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $273.55. The stock has a market cap of $39.28 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, research analysts anticipate that Steel Dynamics, Inc. will post 14.77 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 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.