Allianz Asset Management GmbH Sells 4,256 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Allianz Asset Management GmbH lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 422,481 shares of the basic materials company’s stock after selling 4,256 shares during the period. Allianz Asset Management GmbH’s holdings in Steel Dynamics were worth $48,192,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC increased its position in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after purchasing an additional 6,579 shares during the last quarter. Oak Thistle LLC bought a new position in Steel Dynamics during the fourth quarter valued at $1,725,000. Foster & Motley Inc. increased its position in Steel Dynamics by 8.0% during the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after acquiring an additional 2,602 shares during the last quarter. Larson Financial Group LLC increased its position in Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. UBS Group reiterated a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Stock Down 3.2 %

Shares of STLD opened at $130.71 on Friday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The firm has a fifty day moving average price of $123.78 and a 200-day moving average price of $126.83. The firm has a market capitalization of $19.90 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.05 and a beta of 1.35. 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 released its quarterly earnings data 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 return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the business earned $2.61 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

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.