Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 39.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,148 shares of the basic materials company’s stock after selling 10,485 shares during the period. State of Alaska Department of Revenue’s holdings in Steel Dynamics were worth $1,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harbour Capital Advisors LLC boosted its stake in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after acquiring an additional 6,579 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at about $1,725,000. Foster & Motley Inc. boosted its position in shares of Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after purchasing an additional 2,602 shares during the period. Larson Financial Group LLC grew its stake in Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake 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 during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on STLD shares. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $125.00 to $145.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $146.22.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $134.86 on Wednesday. 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, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm’s fifty day simple moving average is $123.68 and its 200-day simple moving average is $126.36. The stock has a market cap of $20.53 billion, a PE ratio of 13.76 and a beta of 1.35.

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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the firm earned $2.61 earnings per share. Analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Steel Dynamics 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.