PensionDanmark Pensionsforsikringsaktieselskab Raises Stake in Steel Dynamics, Inc. $STLD

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 83.8% in the 2nd quarter, Holdings Channel reports. The firm owned 17,187 shares of the basic materials company’s stock after acquiring an additional 7,837 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Steel Dynamics were worth $3,944,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Prosperity Bancshares Inc purchased a new stake in shares of Steel Dynamics in the fourth quarter worth about $25,000. MV Capital Management Inc. purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC grew its stake in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in Steel Dynamics during the 1st quarter worth approximately $31,000. Finally, DV Equities LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on STLD shares. Morgan Stanley cut their price target on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective on the stock. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.00.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $262.45 on Monday. The stock has a market capitalization of $37.62 billion, a P/E ratio of 23.79, a PEG ratio of 0.50 and a beta of 1.52. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The firm’s 50 day simple moving average is $249.51 and its two-hundred day simple moving average is $217.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $2.01 EPS. The business’s quarterly revenue was up 33.4% on a year-over-year basis. As a group, analysts expect that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

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.