Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396 shares of the basic materials company’s stock after selling 126 shares during the quarter. Private Advisor Group LLC’s holdings in Steel Dynamics were worth $300,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after purchasing an additional 1,475,767 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Steel Dynamics by 531.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock valued at $149,054,000 after buying an additional 1,002,813 shares in the last quarter. Capital Research Global Investors grew its stake in Steel Dynamics by 29.4% in the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock valued at $409,816,000 after acquiring an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock worth $642,033,000 after acquiring an additional 451,630 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Steel Dynamics by 18,398.4% during the first quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company’s stock worth $55,993,000 after acquiring an additional 445,241 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $122.37 on Friday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The stock has a market cap of $18.17 billion, a PE ratio of 17.84, a P/E/G ratio of 1.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The stock has a 50 day moving average price of $130.79 and a 200 day moving average price of $128.24.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $2.72 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on STLD. Morgan Stanley lifted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Wall Street Zen cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.33.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 7,495 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the sale, the senior vice president owned 125,319 shares in the company, valued at $16,950,647.94. This trade represents a 5.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,749 shares of company stock worth $2,702,468. Insiders own 6.30% 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.