Rhumbline Advisers Lowers Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Rhumbline Advisers lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 261,980 shares of the basic materials company's stock after selling 4,623 shares during the quarter. Rhumbline Advisers owned about 0.17% of Steel Dynamics worth $29,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of STLD. Creative Planning raised its position in Steel Dynamics by 0.7% during the 3rd quarter. Creative Planning now owns 27,324 shares of the basic materials company's stock worth $3,445,000 after buying an additional 186 shares during the last quarter. Blue Trust Inc. raised its holdings in Steel Dynamics by 85.4% during the third quarter. Blue Trust Inc. now owns 3,644 shares of the basic materials company's stock worth $472,000 after purchasing an additional 1,679 shares in the last quarter. Raymond James & Associates lifted its position in Steel Dynamics by 3.3% in the third quarter. Raymond James & Associates now owns 77,210 shares of the basic materials company's stock valued at $9,735,000 after purchasing an additional 2,472 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Steel Dynamics in the 3rd quarter valued at approximately $71,000. Finally, Jade Capital Advisors LLC purchased a new stake in Steel Dynamics in the 3rd quarter valued at approximately $667,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and raised their price target for the company from $125.00 to $145.00 in a report on Friday, January 24th. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. 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 objective for the company. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley lifted their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $146.22.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

Shares of STLD stock traded down $4.36 during trading hours on Friday, hitting $130.71. The company's stock had a trading volume of 1,398,713 shares, compared to its average volume of 1,798,552. 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 business has a fifty day moving average of $123.62 and a 200-day moving average of $126.74. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.06 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the firm posted $2.61 EPS. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

About Steel Dynamics

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.