Vest Financial LLC Has $34.51 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Vest Financial LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 302,535 shares of the basic materials company’s stock after acquiring an additional 62,478 shares during the period. Vest Financial LLC’s holdings in Steel Dynamics were worth $34,510,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Holocene Advisors LP increased its position in shares of Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after acquiring an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares in the last quarter. Nordea Investment Management AB increased its holdings in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the last quarter. Finally, Barclays PLC lifted its stake in Steel Dynamics by 21.8% during the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after acquiring an additional 80,262 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 1.7 %

Steel Dynamics stock opened at $126.71 on Friday. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 12.93 and a beta of 1.35. The firm has a 50 day simple moving average of $124.09 and a 200 day simple moving average of $126.27. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the business earned $2.61 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

STLD has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group reissued a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $145.13.

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.