Pathway Financial Advisers LLC Reduces Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Pathway Financial Advisers LLC reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 45,293 shares of the basic materials company’s stock after selling 226 shares during the quarter. Steel Dynamics comprises about 1.7% of Pathway Financial Advisers LLC’s portfolio, making the stock its 11th biggest position. Pathway Financial Advisers LLC’s holdings in Steel Dynamics were worth $5,167,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

STLD has been the topic of a number of research reports. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. 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 target price on the stock. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Finally, Citigroup dropped their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $132.30 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The firm has a market capitalization of $20.14 billion, a P/E ratio of 13.50 and a beta of 1.35. The company’s fifty day moving average is $123.50 and its two-hundred day moving average is $126.40.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 business earned $2.61 EPS. Analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business’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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

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.