Howard Bailey Securities LLC Has $1.31 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Howard Bailey Securities LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 107.1% in the 4th quarter, HoldingsChannel reports. The fund owned 11,452 shares of the basic materials company’s stock after buying an additional 5,922 shares during the quarter. Howard Bailey Securities LLC’s holdings in Steel Dynamics were worth $1,306,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of STLD. Holocene Advisors LP grew its stake 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 valued at $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Steel Dynamics by 6.6% in 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 valued at $194,933,000 after buying an additional 96,122 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Steel Dynamics by 116.5% during 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 acquiring an additional 548,086 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Steel Dynamics by 21.8% during the third 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 during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Performance

STLD stock opened at $132.30 on Thursday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The business’s 50-day moving average price is $123.50 and its two-hundred day moving average price is $126.40. The firm has a market cap of $20.14 billion, a PE ratio of 13.50 and a beta of 1.35. 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 announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 quarter in the prior year, the business posted $2.61 earnings per share. As a group, research analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STLD shares. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $146.22.

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.