Chevy Chase Trust Holdings LLC Reduces Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Chevy Chase Trust Holdings LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,298 shares of the basic materials company’s stock after selling 2,641 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Steel Dynamics were worth $8,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA lifted its holdings in 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 acquiring an additional 245 shares during the period. Golden State Wealth Management LLC acquired a new position in Steel Dynamics in the fourth quarter valued at approximately $48,000. Finally, Brooklyn Investment Group acquired a new position in Steel Dynamics in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STLD shares. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research note on Tuesday, February 11th. The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Morgan Stanley upped their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average target price of $146.22.

Steel Dynamics Trading Up 2.2 %

Shares of STLD stock opened at $135.83 on Tuesday. The stock’s fifty day moving average is $123.31 and its two-hundred day moving average is $126.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The firm has a market capitalization of $20.68 billion, a P/E ratio of 13.86 and a beta of 1.35. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

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 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 last year, the company earned $2.61 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

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.