By otakuyassine3@gmail.com 
Rhumbline Advisers trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 261,980 shares of the basic materials company’s stock after selling 4,623 shares during the period. Rhumbline Advisers owned about 0.17% of Steel Dynamics worth $29,884,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Steel Dynamics during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA grew its position 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 valued at $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter worth $48,000. Finally, Brooklyn Investment Group bought a new position in Steel Dynamics in the 3rd quarter worth $61,000. 82.41% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley upped their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.22.
Check Out Our Latest Stock Report on Steel Dynamics
Insider Transactions at Steel Dynamics
In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.00% of the company’s stock.
Steel Dynamics Stock Performance
NASDAQ STLD opened at $139.06 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The business has a 50 day simple moving average of $123.39 and a two-hundred day simple moving average of $126.61. The stock has a market capitalization of $21.17 billion, a PE ratio of 14.19 and a beta of 1.35.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the business earned $2.61 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.
Steel Dynamics Company 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.
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