Brown Advisory Inc. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 36.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the basic materials company's stock after selling 2,261 shares during the quarter. Brown Advisory Inc.'s holdings in Steel Dynamics were worth $334,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of STLD. Norges Bank bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $199,835,000. Victory Capital Management Inc. grew its holdings in shares of Steel Dynamics by 11.7% in the 4th quarter. Victory Capital Management Inc. now owns 4,608,517 shares of the basic materials company's stock valued at $286,051,000 after acquiring an additional 481,137 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Steel Dynamics by 816.1% in the 1st quarter. Pacer Advisors Inc. now owns 310,343 shares of the basic materials company's stock valued at $25,892,000 after acquiring an additional 276,467 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Steel Dynamics by 20.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,389,118 shares of the basic materials company's stock valued at $86,222,000 after acquiring an additional 240,496 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Steel Dynamics by 11.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,269,894 shares of the basic materials company's stock valued at $78,822,000 after acquiring an additional 131,121 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
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Insider Buying and Selling at Steel Dynamics
In related news, Director Keith E. Busse sold 5,040 shares of the company's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the completion of the sale, the director now owns 724,034 shares of the company's stock, valued at $60,464,079.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.40% of the company's stock.
Steel Dynamics Trading Up 1.3 %
Shares of STLD stock opened at $84.61 on Friday. The firm has a 50 day moving average price of $71.98 and a two-hundred day moving average price of $75.22. The company has a quick ratio of 1.87, a current ratio of 3.52 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.45 billion, a PE ratio of 3.76 and a beta of 1.41. Steel Dynamics, Inc. has a 12-month low of $50.54 and a 12-month high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.39. The firm 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 business's revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the business posted $3.40 earnings per share. As a group, analysts predict that Steel Dynamics, Inc. will post 21.07 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. BMO Capital Markets lifted their price target on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. UBS Group set a $95.00 price target on Steel Dynamics in a report on Monday, June 20th. The Goldman Sachs Group cut Steel Dynamics from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. Finally, Morgan Stanley reduced their price target on Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating for the company in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.
Steel Dynamics Company 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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