51,573 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, HoldingsChannel reports. The fund acquired 51,573 shares of the basic materials company’s stock, valued at approximately $5,883,000.

Other institutional investors have also made changes to their positions in the company. Holocene Advisors LP grew its position in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after buying an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC grew its holdings in Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the period. Nordea Investment Management AB grew its holdings 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 purchasing an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Steel Dynamics by 192.4% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock valued at $28,577,000 after purchasing an additional 164,895 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Steel Dynamics during the third quarter valued at approximately $15,880,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the firm’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 in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STLD. JPMorgan Chase & Co. decreased their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Morgan Stanley boosted their target price on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. KeyCorp raised 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. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Finally, BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Trading Down 3.2 %

NASDAQ:STLD opened at $130.71 on Monday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The business has a 50 day moving average price of $123.78 and a two-hundred day moving average price of $126.89. The company has a market cap 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. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last announced its 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 return on equity of 17.32% and a net margin of 8.76%. During the same quarter last year, the firm posted $2.61 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

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.