Empowered Funds LLC Has $4.67 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Empowered Funds LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,958 shares of the basic materials company's stock after buying an additional 3,672 shares during the quarter. Empowered Funds LLC's holdings in Steel Dynamics were worth $4,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in STLD. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Steel Dynamics by 350.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 900 shares of the basic materials company's stock worth $114,000 after buying an additional 700 shares in the last quarter. Ritholtz Wealth Management grew its position in shares of Steel Dynamics by 63.8% during the third quarter. Ritholtz Wealth Management now owns 4,317 shares of the basic materials company's stock worth $544,000 after buying an additional 1,682 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Steel Dynamics during the third quarter worth approximately $339,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Steel Dynamics by 274.1% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,171 shares of the basic materials company's stock worth $148,000 after buying an additional 858 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of Steel Dynamics by 4.7% during the third quarter. Wedge Capital Management L L P NC now owns 61,305 shares of the basic materials company's stock worth $7,729,000 after buying an additional 2,730 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Price Performance

Steel Dynamics stock traded up $2.95 during midday trading on Friday, hitting $135.83. The company's stock had a trading volume of 1,608,294 shares, compared to its average volume of 1,674,464. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $123.36 and its 200-day moving average price is $126.46. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market capitalization of $20.68 billion, a PE ratio of 13.86 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 period in the previous year, the firm posted $2.61 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and raised their price target for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Tuesday. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a report on Thursday. Finally, UBS Group restated a "neutral" rating and set a $149.00 price objective (up 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. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $146.22.

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.