Annex Advisory Services LLC lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 7.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,150 shares of the basic materials company’s stock after purchasing an additional 150 shares during the period. Annex Advisory Services LLC’s holdings in Steel Dynamics were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Steel Dynamics during the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new stake in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA boosted its stake in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group bought a new stake in Steel Dynamics during the third quarter valued at $61,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics during the third quarter valued at $62,000. 82.41% of the stock is owned by institutional investors.
Steel Dynamics Trading Down 0.9 %
NASDAQ:STLD opened at $124.69 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 11.28 and a beta of 1.36. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The business has a fifty day moving average price of $128.30 and a 200-day moving average price of $126.44.
Steel Dynamics Dividend Announcement
Insider Buying and Selling
In other news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,650 shares of company stock valued at $1,498,170. Company insiders own 6.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group cut their price objective on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. UBS Group restated a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $140.88.
View Our Latest Research Report on STLD
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.
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