Asset Management One Co. Ltd. Has $6.58 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Asset Management One Co. Ltd. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 56,810 shares of the basic materials company’s stock after selling 8,706 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Steel Dynamics were worth $6,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLD. Holocene Advisors LP increased its position in Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares in the last quarter. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its position in Steel Dynamics by 192.4% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after purchasing an additional 164,895 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Steel Dynamics during the 3rd quarter worth approximately $15,880,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 2.4 %

Shares of NASDAQ STLD opened at $139.06 on Wednesday. The firm has a market cap of $21.17 billion, a PE ratio of 14.19 and a beta of 1.35. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company’s fifty day simple moving average is $123.39 and its 200 day simple moving average is $126.61. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 quarter in the prior year, the business earned $2.61 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were 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 in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on STLD. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Tuesday, February 11th. UBS Group reissued a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $146.22.

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.