Savant Capital LLC Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Savant Capital LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,034 shares of the basic materials company’s stock after acquiring an additional 387 shares during the quarter. Savant Capital LLC’s holdings in Steel Dynamics were worth $346,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Stiles Financial Services Inc increased its holdings in Steel Dynamics by 7.3% in the 4th quarter. Stiles Financial Services Inc now owns 21,182 shares of the basic materials company’s stock worth $2,417,000 after buying an additional 1,445 shares during the period. Entropy Technologies LP raised its holdings in shares of Steel Dynamics by 14.1% during the 4th quarter. Entropy Technologies LP now owns 19,851 shares of the basic materials company’s stock worth $2,264,000 after acquiring an additional 2,456 shares during the period. Empowered Funds LLC raised its holdings in Steel Dynamics by 9.8% in the 4th quarter. Empowered Funds LLC now owns 40,958 shares of the basic materials company’s stock valued at $4,672,000 after buying an additional 3,672 shares during the period. Kingsview Wealth Management LLC increased its stake in Steel Dynamics by 6.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 75,058 shares of the basic materials company’s stock worth $8,562,000 after purchasing an additional 4,833 shares during the period. Finally, Vest Financial LLC grew its position in shares of Steel Dynamics by 26.0% during the fourth quarter. Vest Financial LLC now owns 302,535 shares of the basic materials company’s stock worth $34,510,000 after buying an additional 62,478 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $135.83 on Tuesday. The business’s 50-day moving average price is $123.31 and its two-hundred day moving average price is $126.48. 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, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a market capitalization of $20.68 billion, a P/E ratio of 13.86 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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 period in the prior year, the company posted $2.61 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STLD. UBS Group reissued 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. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. Morgan Stanley upped their target price on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has an average rating of “Hold” and an average price target of $146.22.

Insider Buying and Selling

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

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.