Royal London Asset Management Ltd. Has $429.04 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Royal London Asset Management Ltd. decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,632,823 shares of the basic materials company’s stock after selling 112,503 shares during the quarter. Steel Dynamics accounts for about 1.2% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 12th largest holding. Royal London Asset Management Ltd.’s holdings in Steel Dynamics were worth $429,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of STLD. CVA Family Office LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics in the 4th quarter worth about $29,000. Lindbrook Capital LLC lifted its stake in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 134 shares in the last quarter. Security National Bank acquired a new stake in Steel Dynamics during the 4th quarter worth about $30,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.6 %

STLD stock traded down $0.73 during trading hours on Friday, hitting $120.69. The company’s stock had a trading volume of 1,211,205 shares, compared to its average volume of 1,079,509. The stock has a 50 day moving average price of $133.42 and a two-hundred day moving average price of $128.03. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The company has a market capitalization of $18.96 billion, a PE ratio of 8.29 and a beta of 1.40. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $4.01 earnings per share. Steel Dynamics’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Steel Dynamics, Inc. will post 12.2 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is 12.64%.

Analyst Ratings Changes

Several research firms recently commented on STLD. Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group assumed coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.29.

Insider Activity at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.00% of the stock is owned by company insiders.

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.