Rhumbline Advisers Sells 4,623 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Rhumbline Advisers lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,980 shares of the basic materials company’s stock after selling 4,623 shares during the quarter. Rhumbline Advisers’ holdings in Steel Dynamics were worth $29,884,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC bought a new position in Steel Dynamics in the fourth quarter worth approximately $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics during the 3rd quarter worth $61,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 2.4 %

Steel Dynamics stock opened at $139.06 on Wednesday. The business has a fifty day moving average price of $123.39 and a 200-day moving average price of $126.61. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 14.19 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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. Equities research analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of recent research reports. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Morgan Stanley raised their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research note on Tuesday, February 11th. 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. Finally, UBS Group restated a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $146.22.

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.