ING Groep NV Grows Position in Steel Dynamics, Inc. (NASDAQ:STLD)

ING Groep NV lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 104,084 shares of the basic materials company’s stock after buying an additional 14,892 shares during the quarter. ING Groep NV’s holdings in Steel Dynamics were worth $11,873,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the third quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA raised its stake in Steel Dynamics by 532.6% during the third 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 in the last quarter. Golden State Wealth Management LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at $48,000. Finally, Brooklyn Investment Group purchased a new stake in Steel Dynamics during the third quarter valued at $61,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.2 %

STLD stock opened at $135.07 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The stock has a market capitalization of $20.56 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The firm’s fifty day simple moving average is $123.62 and its two-hundred day simple moving average is $126.74.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the firm earned $2.61 earnings per share. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley upped their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. Finally, Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $146.22.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.00% 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.