Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 42.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,729 shares of the basic materials company’s stock after purchasing an additional 28,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of Steel Dynamics worth $11,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA boosted its stake in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $61,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $130.71 on Monday. The firm has a 50 day moving average of $123.78 and a 200-day moving average of $126.89. The firm has a market capitalization of $19.90 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last announced 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 quarter in the prior year, the company earned $2.61 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on STLD. Citigroup dropped their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley upped their price target on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $146.22.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.00% of the stock is owned by company insiders.

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.