Secured Retirement Advisors LLC Lowers Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Secured Retirement Advisors LLC lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 59.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,349 shares of the basic materials company's stock after selling 6,340 shares during the quarter. Secured Retirement Advisors LLC's holdings in Steel Dynamics were worth $496,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Steel Dynamics in the third quarter valued at $339,000. Creative Planning raised its position in Steel Dynamics by 0.7% in the 3rd quarter. Creative Planning now owns 27,324 shares of the basic materials company's stock valued at $3,445,000 after purchasing an additional 186 shares in the last quarter. Accurate Wealth Management LLC raised its position in Steel Dynamics by 4.9% in the 3rd quarter. Accurate Wealth Management LLC now owns 5,721 shares of the basic materials company's stock valued at $735,000 after purchasing an additional 269 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Steel Dynamics by 85.4% in the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the basic materials company's stock valued at $472,000 after buying an additional 1,679 shares during the period. Finally, Raymond James & Associates grew its position in shares of Steel Dynamics by 3.3% during the third quarter. Raymond James & Associates now owns 77,210 shares of the basic materials company's stock worth $9,735,000 after buying an additional 2,472 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analysts Set New Price Targets

STLD has been the topic of several analyst reports. KeyCorp raised 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 report on Tuesday, February 11th. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price for the company. UBS Group restated a "neutral" rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, Citigroup decreased their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have issued 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.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock traded down $2.30 on Wednesday, hitting $136.76. The stock had a trading volume of 1,486,050 shares, compared to its average volume of 1,826,197. The company's 50 day moving average price is $123.45 and its 200 day moving average price is $126.68. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.06 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. 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 data 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 net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the company earned $2.61 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.

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.