Sumitomo Mitsui Trust Group Inc. Has $46.48 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Sumitomo Mitsui Trust Group Inc. increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 407,444 shares of the basic materials company’s stock after buying an additional 1,006 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Steel Dynamics were worth $46,477,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA boosted its stake in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Brooklyn Investment Group bought a new stake in Steel Dynamics during the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Steel Dynamics in the third quarter worth approximately $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the 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 sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’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 completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of STLD opened at $132.87 on Tuesday. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock’s fifty day moving average price is $123.85 and its two-hundred day moving average price is $126.33. The firm has a market cap of $20.23 billion, a PE ratio of 13.56 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last announced 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 firm earned $2.61 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STLD. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Morgan Stanley boosted their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group restated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average price target of $145.13.

Steel Dynamics Profile

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.