Chevy Chase Trust Holdings LLC Sells 2,641 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Chevy Chase Trust Holdings LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,298 shares of the basic materials company's stock after selling 2,641 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Steel Dynamics were worth $8,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Holocene Advisors LP boosted its holdings in shares of 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 purchasing an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock valued at $194,933,000 after buying an additional 96,122 shares during the period. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock valued at $158,487,000 after buying an additional 253,802 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Steel Dynamics by 116.5% in 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 last quarter. Finally, Barclays PLC raised its holdings in shares of Steel Dynamics by 21.8% during the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company's stock worth $56,603,000 after acquiring an additional 80,262 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock traded down $1.45 during midday trading on Thursday, hitting $135.31. The company had a trading volume of 573,207 shares, compared to its average volume of 1,786,771. The stock has a market cap of $20.60 billion, a PE ratio of 13.81, a P/E/G ratio of 1.08 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's 50 day simple moving average is $123.45 and its two-hundred day simple moving average is $126.68. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 company posted $2.61 EPS. As a group, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction on 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 in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on STLD shares. Citigroup dropped their target price on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective on the stock. Morgan Stanley lifted their target price 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. UBS Group reissued a "neutral" rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average 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.