Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,958 shares of the basic materials company’s stock after acquiring an additional 3,672 shares during the quarter. Empowered Funds LLC’s holdings in Steel Dynamics were worth $4,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in STLD. Holocene Advisors LP grew its position in 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 purchasing an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after buying an additional 96,122 shares during the last quarter. 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 worth $158,487,000 after acquiring an additional 253,802 shares during the period. Lord Abbett & CO. LLC raised its position 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 acquiring an additional 548,086 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after acquiring an additional 80,262 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on STLD shares. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the 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 Trading Up 1.5 %

STLD stock opened at $134.86 on Wednesday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business’s 50-day moving average is $123.68 and its 200 day moving average is $126.36. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 13.76 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $2.61 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

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.