Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 41.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,958 shares of the basic materials company's stock after selling 105,639 shares during the period. Van ECK Associates Corp owned about 0.10% of Steel Dynamics worth $17,219,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $28,000. Private Trust Co. NA lifted its position in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $61,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Down 1.7 %

Shares of STLD stock traded down $2.30 during trading on Wednesday, reaching $136.76. The company's stock had a trading volume of 1,389,147 shares, compared to its average volume of 1,823,132. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The company has a market capitalization 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 stock's 50-day moving average price is $123.39 and its 200 day moving average price is $126.61. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the firm posted $2.61 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, 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 at this link. Company insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, February 13th. Morgan Stanley upped their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and increased their target price for the company from $125.00 to $145.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased 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. Finally, UBS Group reissued a "neutral" rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.