J.P. Morgan Private Wealth Advisors LLC Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

J.P. Morgan Private Wealth Advisors LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 90.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,319 shares of the basic materials company’s stock after purchasing an additional 6,342 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Steel Dynamics were worth $1,428,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Steel Dynamics by 3.0% during the 1st quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock valued at $1,989,364,000 after purchasing an additional 510,981 shares during the last quarter. State Street Corp grew its holdings in shares of Steel Dynamics by 9.5% during the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after purchasing an additional 800,656 shares during the last quarter. Morgan Stanley grew its holdings in shares of Steel Dynamics by 29.2% during the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock valued at $296,486,000 after purchasing an additional 684,975 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Steel Dynamics by 24.7% during the 2nd quarter. Capital Research Global Investors now owns 2,771,928 shares of the basic materials company’s stock valued at $301,946,000 after purchasing an additional 548,995 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Steel Dynamics by 15.5% during the 4th 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 last quarter. Institutional investors own 81.32% of the company’s stock.

Insider Transactions at Steel Dynamics

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

Wall Street Analyst Weigh In

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

View Our Latest Report on STLD

Steel Dynamics Trading Up 0.1 %

NASDAQ:STLD opened at $124.99 on Monday. The company has a 50-day moving average price of $117.80 and a 200-day moving average price of $110.19. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $136.46. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 8.57 and a beta of 1.40.

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

Steel Dynamics declared that its Board of Directors has initiated a share repurchase plan on Friday, November 3rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors 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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