Swiss National Bank Sells 72,100 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Swiss National Bank lessened its position in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 516,500 shares of the basic materials company’s stock after selling 72,100 shares during the period. Swiss National Bank owned about 0.31% of Steel Dynamics worth $55,379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Steel Dynamics by 3.0% in the first quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock worth $1,989,364,000 after buying an additional 510,981 shares in the last quarter. State Street Corp lifted its stake in shares of Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after buying an additional 800,656 shares in the last quarter. Morgan Stanley lifted its stake in shares of Steel Dynamics by 29.2% in the fourth quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after buying an additional 684,975 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Steel Dynamics by 24.7% in the second quarter. Capital Research Global Investors now owns 2,771,928 shares of the basic materials company’s stock worth $301,946,000 after buying an additional 548,995 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Steel Dynamics by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,308,698 shares of the basic materials company’s stock valued at $225,560,000 after purchasing an additional 309,009 shares during the period. Institutional investors own 81.32% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of Steel Dynamics from $99.00 to $108.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the company an “underweight” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.75.

Get Our Latest Stock Report on Steel Dynamics

Insider Transactions at Steel Dynamics

In other news, Director James C. Marcuccilli sold 25,454 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $122.43, for a total value of $3,116,333.22. Following the completion of the sale, the director now directly owns 59,989 shares of the company’s stock, valued at $7,344,453.27. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 1.1 %

STLD opened at $120.17 on Wednesday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $136.46. The company has a market capitalization of $19.45 billion, a PE ratio of 8.24 and a beta of 1.40. The firm’s 50 day simple moving average is $117.40 and its two-hundred day simple moving average is $109.74.

Steel Dynamics (NASDAQ:STLDGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period last year, the company earned $4.37 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 10.73 EPS for the current year.

Steel Dynamics declared that its board has authorized a stock buyback plan on Friday, November 3rd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Steel Dynamics Company Profile

(Free Report)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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