State of Alaska Department of Revenue Sells 10,485 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

State of Alaska Department of Revenue lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 39.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,148 shares of the basic materials company's stock after selling 10,485 shares during the period. State of Alaska Department of Revenue's holdings in Steel Dynamics were worth $1,842,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Commerce Bank raised its position in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock worth $754,000 after purchasing an additional 73 shares during the last quarter. M&T Bank Corp raised its position in Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company's stock worth $1,267,000 after purchasing an additional 88 shares during the last quarter. Atomi Financial Group Inc. raised its position in Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock worth $220,000 after purchasing an additional 91 shares during the last quarter. Covestor Ltd raised its position in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company's stock worth $120,000 after purchasing an additional 93 shares during the last quarter. Finally, Greenleaf Trust raised its position in Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company's stock worth $583,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

STLD has been the subject of several research analyst reports. UBS Group restated a "neutral" rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. 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 research report on Friday, January 17th. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price for the company in a research report on Tuesday. Finally, StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of "Hold" and an average target price of $146.22.

Steel Dynamics Trading Up 2.2 %

Shares of STLD stock traded up $2.95 on Friday, 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 twelve month low of $104.60 and a twelve month high of $155.56. The firm has a market cap of $20.68 billion, a P/E ratio of 13.86 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. The company has a fifty day moving average price of $123.36 and a two-hundred day moving average price of $126.46.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business posted $2.61 earnings per share. As a group, analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction on 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 directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is owned by company 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.