Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,076 shares of the basic materials company’s stock after buying an additional 299 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Steel Dynamics were worth $1,834,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA grew its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Brooklyn Investment Group purchased a new position in Steel Dynamics in the third quarter valued at $61,000. Finally, Quest Partners LLC acquired a new stake in Steel Dynamics in the third quarter valued at $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. 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 company’s stock in a transaction 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 owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on STLD shares. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. 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 objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $145.13.

Steel Dynamics Trading Up 4.9 %

Shares of Steel Dynamics stock opened at $132.87 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The company has a market capitalization of $20.23 billion, a P/E ratio of 13.56 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company’s fifty day moving average is $123.85 and its two-hundred day moving average is $126.33.

Steel Dynamics (NASDAQ:STLD) last released 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 in the previous year, the business posted $2.61 EPS. Analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current 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.