Northwestern Mutual Wealth Management Co. lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 188.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 48,980 shares of the basic materials company's stock after acquiring an additional 31,992 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Steel Dynamics were worth $4,087,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in STLD. State Street Corp boosted its stake in Steel Dynamics by 1.2% in the 4th quarter. State Street Corp now owns 8,406,799 shares of the basic materials company's stock worth $523,968,000 after purchasing an additional 100,835 shares during the period. Dimensional Fund Advisors LP boosted its stake in Steel Dynamics by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,448,382 shares of the basic materials company's stock worth $400,241,000 after purchasing an additional 22,762 shares during the period. Victory Capital Management Inc. boosted its stake in Steel Dynamics by 2.4% in the 1st quarter. Victory Capital Management Inc. now owns 4,719,986 shares of the basic materials company's stock worth $394,294,000 after purchasing an additional 111,469 shares during the period. Norges Bank bought a new position in Steel Dynamics in the 4th quarter worth about $199,835,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Steel Dynamics by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,085,444 shares of the basic materials company's stock worth $191,514,000 after purchasing an additional 15,424 shares during the period. Institutional investors own 83.19% of the company's stock.
Get Steel Dynamics alerts:Steel Dynamics Stock Performance
Shares of NASDAQ STLD opened at $84.61 on Monday. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of 3.76 and a beta of 1.41. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. Steel Dynamics, Inc. has a 1-year low of $50.54 and a 1-year high of $100.37. The stock's 50-day moving average is $71.98 and its 200 day moving average is $75.36.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.39. The company had revenue of $6.21 billion for the quarter, compared to analysts' expectations of $5.93 billion. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. Steel Dynamics's revenue for the quarter was up 39.1% compared to the same quarter last year. During the same period last year, the firm posted $3.40 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 21.07 EPS for the current fiscal year.Insider Activity at Steel Dynamics
In related news, Director Keith E. Busse sold 5,040 shares of the firm's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total transaction of $420,890.40. Following the transaction, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on STLD shares. JPMorgan Chase & Co. cut their target price on Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. UBS Group set a $95.00 price target on Steel Dynamics in a report on Monday, June 20th. BMO Capital Markets raised their price target on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. Morgan Stanley lowered their price target on Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 6th. Finally, The Goldman Sachs Group cut Steel Dynamics from a "buy" rating to a "neutral" rating and lowered their price target for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.
About Steel Dynamics
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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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