Handelsbanken Fonder AB Boosts Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Handelsbanken Fonder AB grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,400 shares of the basic materials company’s stock after purchasing an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Steel Dynamics were worth $3,924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Alberta Investment Management Corp purchased a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $4,470,000. Peregrine Capital Management LLC lifted its stake in Steel Dynamics by 1.7% in the fourth quarter. Peregrine Capital Management LLC now owns 69,389 shares of the basic materials company’s stock worth $7,915,000 after acquiring an additional 1,191 shares during the last quarter. Truist Financial Corp lifted its stake in Steel Dynamics by 6.5% in the fourth quarter. Truist Financial Corp now owns 66,097 shares of the basic materials company’s stock worth $7,540,000 after acquiring an additional 4,014 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Steel Dynamics by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 23,625 shares of the basic materials company’s stock worth $2,695,000 after acquiring an additional 386 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Steel Dynamics by 4.0% in the fourth quarter. Sanctuary Advisors LLC now owns 17,556 shares of the basic materials company’s stock worth $2,003,000 after acquiring an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 3.2 %

STLD opened at $130.71 on Monday. The business’s 50-day simple moving average is $123.78 and its 200-day simple moving average is $126.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock has a market capitalization of $19.90 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last posted its 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 period last year, the firm posted $2.61 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. 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 note on Monday, February 3rd. UBS Group reiterated a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $146.22.

Steel Dynamics Company 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.