Apollon Wealth Management LLC decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,588 shares of the basic materials company’s stock after selling 303 shares during the quarter. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of STLD. Holocene Advisors LP increased its position in 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 worth $289,400,000 after acquiring an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC increased its position in 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 period. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after acquiring an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc increased its position in Steel Dynamics by 192.4% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after acquiring an additional 164,895 shares during the period. Finally, World Investment Advisors LLC bought a new position in Steel Dynamics during the third quarter worth $15,880,000. Institutional investors own 82.41% of the company’s stock.
Insider Transactions at Steel Dynamics
In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is owned by insiders.
Steel Dynamics Stock Up 0.4 %
STLD opened at $132.88 on Friday. The firm’s 50-day simple moving average is $123.38 and its 200-day simple moving average is $126.44. 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 twelve month low of $104.60 and a twelve month high of $155.56. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 13.56 and a beta of 1.35.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted 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 return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the business posted $2.61 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.
Analysts Set New Price Targets
STLD has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Citigroup dropped their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $146.22.
View Our Latest Analysis on STLD
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.
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