Allspring Global Investments Holdings LLC Sells 6,541 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Allspring Global Investments Holdings LLC trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 49.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,731 shares of the basic materials company’s stock after selling 6,541 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Steel Dynamics were worth $753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STLD. Holocene Advisors LP raised its stake in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after buying an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Steel Dynamics by 116.5% in the third 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 during the period. Nordea Investment Management AB grew its holdings in Steel Dynamics by 22.4% in the fourth 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 during the period. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Steel Dynamics by 192.4% in the fourth 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 during the period. Finally, World Investment Advisors LLC purchased a new stake in Steel Dynamics in the third quarter worth about $15,880,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Down 3.2 %

Steel Dynamics stock opened at $130.71 on Monday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The firm has a market cap of $19.90 billion, a PE ratio of 13.34, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $123.78 and its two-hundred day simple moving average is $126.89.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data 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 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were 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 of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STLD shares. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. UBS Group reiterated a “neutral” rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Citigroup cut their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus price target 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.