Alberta Investment Management Corp Invests $4.47 Million in Steel Dynamics, Inc. (NASDAQ:STLD)

Alberta Investment Management Corp bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,185 shares of the basic materials company's stock, valued at approximately $4,470,000.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics during the third quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $28,000. Private Trust Co. NA grew its position in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $48,000. Finally, Brooklyn Investment Group purchased a new position in shares of Steel Dynamics during the third quarter worth approximately $61,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Down 3.2 %

STLD traded down $4.36 during midday trading on Friday, hitting $130.71. The company's stock had a trading volume of 1,398,713 shares, compared to its average volume of 1,755,295. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The firm has a market cap of $19.90 billion, a P/E ratio of 13.34, a PEG ratio of 1.05 and a beta of 1.35. The firm has a 50-day moving average price of $123.78 and a two-hundred day moving average price of $126.80. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS 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 posted $2.61 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the business'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 completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price target on Steel Dynamics from $131.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their price target on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Finally, UBS Group reaffirmed a "neutral" rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of "Hold" and a consensus price target 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.