E. Ohman J or Asset Management AB Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

E. Ohman J or Asset Management AB grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,500 shares of the basic materials company’s stock after purchasing an additional 1,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Steel Dynamics were worth $741,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA raised its stake in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $61,000. Finally, Quest Partners LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $62,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 2.4 %

STLD opened at $129.42 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 13.21 and a beta of 1.35. The business has a 50-day moving average of $124.76 and a two-hundred day moving average of $126.26. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate 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 previous year, the firm posted $2.61 earnings per share. On average, research analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 18.78%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on STLD shares. UBS Group reaffirmed a “neutral” rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. StockNews.com downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday. Citigroup cut their target price 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. Finally, BMO Capital Markets boosted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $145.13.

About Steel Dynamics

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.