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

Allianz Asset Management GmbH reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 422,481 shares of the basic materials company’s stock after selling 4,256 shares during the quarter. Allianz Asset Management GmbH owned 0.28% of Steel Dynamics worth $48,192,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. UBS Group reaffirmed a “neutral” rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price target for the company from $125.00 to $145.00 in a report on Friday, January 24th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $130.71 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company 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 firm’s 50 day simple moving average is $123.78 and its two-hundred day simple moving average is $126.83.

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

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.00% of the company’s stock.

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.