Navellier & Associates Inc. Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Navellier & Associates Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 31.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,381 shares of the basic materials company’s stock after purchasing an additional 2,235 shares during the period. Navellier & Associates Inc.’s holdings in Steel Dynamics were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Commerce Bank increased its stake in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after acquiring an additional 73 shares during the last quarter. M&T Bank Corp increased its stake in Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 88 shares during the last quarter. Atomi Financial Group Inc. increased its stake in Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 91 shares during the last quarter. Covestor Ltd increased its stake in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 93 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Trading Down 3.2 %

Shares of STLD stock opened at $130.71 on Friday. The stock has a market capitalization of $19.90 billion, a PE ratio of 13.34, a P/E/G ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The business has a 50-day moving average of $123.78 and a 200 day moving average of $126.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 previous year, the firm earned $2.61 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STLD. UBS Group restated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Morgan Stanley increased their price objective on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.