Howard Bailey Securities LLC Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Howard Bailey Securities LLC grew its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 107.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,452 shares of the basic materials company's stock after acquiring an additional 5,922 shares during the period. Howard Bailey Securities LLC's holdings in Steel Dynamics were worth $1,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Holocene Advisors LP increased its position in Steel Dynamics by 85.8% during the 3rd 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% in the third 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 in the last quarter. Nordea Investment Management AB grew its holdings 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. Lord Abbett & CO. LLC raised its position in 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 in the last quarter. Finally, Barclays PLC lifted its holdings in Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company's stock valued at $56,603,000 after acquiring an additional 80,262 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STLD shares. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a report on Friday, January 17th. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday. UBS Group reaffirmed a "neutral" rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective for the company in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $146.22.

Insider Activity

In other Steel Dynamics 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 value of $3,184,810.83. Following the sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

STLD stock traded up $2.95 during trading on Monday, hitting $135.83. The stock had a trading volume of 1,608,294 shares, compared to its average volume of 1,674,464. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 13.86 and a beta of 1.35. The company's 50 day moving average price is $123.36 and its two-hundred day moving average price is $126.42. 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 (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (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 quarter last year, the business posted $2.61 EPS. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

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.