Asset Management One Co. Ltd. Sells 8,706 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Asset Management One Co. Ltd. lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,810 shares of the basic materials company’s stock after selling 8,706 shares during the period. Asset Management One Co. Ltd.’s holdings in Steel Dynamics were worth $6,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA grew its position in shares of Steel Dynamics by 532.6% in the 3rd 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 bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group bought a new position in shares of Steel Dynamics in the 3rd quarter valued at about $61,000. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on STLD shares. JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. KeyCorp raised shares of 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. Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reaffirmed 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $146.22.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $139.06 on Wednesday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $123.39 and a two-hundred day simple moving average of $126.61. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 14.19 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 quarter last year, the firm posted $2.61 earnings per share. Analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

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.