OLD National Bancorp IN lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 26.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,661 shares of the basic materials company's stock after selling 6,136 shares during the quarter. OLD National Bancorp IN's holdings in Steel Dynamics were worth $1,390,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in STLD. International Assets Investment Management LLC boosted its holdings in shares of Steel Dynamics by 6.0% in the fourth quarter. International Assets Investment Management LLC now owns 15,938 shares of the basic materials company's stock valued at $74,000 after buying an additional 900 shares during the period. CWM LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $65,000. Assenagon Asset Management S.A. boosted its position in Steel Dynamics by 4.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 27,760 shares of the basic materials company's stock worth $1,723,000 after buying an additional 1,144 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Steel Dynamics by 20.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 88,042 shares of the basic materials company's stock worth $5,494,000 after purchasing an additional 15,044 shares during the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of Steel Dynamics in the 4th quarter valued at $685,000. Institutional investors own 83.19% of the company's stock.
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Steel Dynamics Price Performance
STLD opened at $83.01 on Thursday. The company's 50 day simple moving average is $71.98 and its 200-day simple moving average is $74.65. Steel Dynamics, Inc. has a one year low of $50.54 and a one year high of $100.37. The stock has a market capitalization of $15.16 billion, a P/E ratio of 3.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.52 and a quick ratio of 1.87.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.39. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.93 billion. Steel Dynamics had a net
margin of 19.81% and a return on equity of 71.50%. The company's quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.40 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 21.07 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on STLD. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. UBS Group set a $95.00 target price on Steel Dynamics in a research report on Monday, June 20th. Morgan Stanley decreased their price objective on Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 6th. The Goldman Sachs Group lowered Steel Dynamics from a "buy" rating to a "neutral" rating and cut their price objective for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and a consensus price target of $89.00.
Insiders Place Their Bets
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the company's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the transaction, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.40% of the company's stock.
Steel Dynamics Profile
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Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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