Spinnaker Trust Boosts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Spinnaker Trust raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,184 shares of the basic materials company’s stock after acquiring an additional 467 shares during the period. Spinnaker Trust’s holdings in Steel Dynamics were worth $5,724,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STLD. Exchange Traded Concepts LLC purchased a new stake in Steel Dynamics during the third quarter valued at about $339,000. Creative Planning boosted its position in shares of Steel Dynamics by 0.7% in the third quarter. Creative Planning now owns 27,324 shares of the basic materials company’s stock worth $3,445,000 after buying an additional 186 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Steel Dynamics in the third quarter worth about $640,000. Accurate Wealth Management LLC boosted its position in shares of Steel Dynamics by 4.9% in the third quarter. Accurate Wealth Management LLC now owns 5,721 shares of the basic materials company’s stock worth $735,000 after buying an additional 269 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Steel Dynamics by 85.4% in the third quarter. Blue Trust Inc. now owns 3,644 shares of the basic materials company’s stock worth $472,000 after buying an additional 1,679 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. 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 report on Tuesday. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. 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, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $146.22.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the company’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 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. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Trading Up 2.2 %

Shares of NASDAQ STLD opened at $135.83 on Friday. The stock’s 50 day moving average price is $123.36 and its two-hundred day moving average price is $126.48. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The stock has a market capitalization of $20.68 billion, a P/E ratio of 13.86 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 quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the firm posted $2.61 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal 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.