Alberta Investment Management Corp Invests $4.47 Million in Steel Dynamics, Inc. (NASDAQ:STLD)

Alberta Investment Management Corp purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 39,185 shares of the basic materials company’s stock, valued at approximately $4,470,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $28,000. Private Trust Co. NA boosted its holdings 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 valued at $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics during the 3rd quarter valued at about $61,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STLD has been the subject of a number of research analyst reports. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley increased their price target on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $146.22.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.10% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $136.76 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 fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm has a market capitalization of $20.82 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The stock’s 50-day simple moving average is $123.45 and its 200-day simple moving average is $126.68.

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 period last year, the business posted $2.61 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS 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.