Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,293 shares of the basic materials company’s stock after selling 226 shares during the quarter. Steel Dynamics accounts for about 1.7% of Pathway Financial Advisers LLC’s portfolio, making the stock its 11th largest holding. Pathway Financial Advisers LLC’s holdings in Steel Dynamics were worth $5,167,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Holocene Advisors LP boosted its position in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Steel Dynamics by 116.5% in the 3rd 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 in the last quarter. Nordea Investment Management AB raised its holdings in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its position 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 worth $28,577,000 after purchasing an additional 164,895 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in Steel Dynamics in the third quarter valued at approximately $15,880,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $132.30 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.50 and a beta of 1.35. The business has a 50-day moving average of $123.50 and a 200 day moving average of $126.40. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the firm posted $2.61 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STLD. Morgan Stanley upped their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. Citigroup reduced their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. Finally, KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $146.22.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

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.