Sumitomo Mitsui Trust Group Inc. Has $46.48 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,444 shares of the basic materials company’s stock after acquiring an additional 1,006 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Steel Dynamics worth $46,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Holocene Advisors LP increased its stake in Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after acquiring an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its stake in Steel Dynamics by 192.4% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock valued at $28,577,000 after purchasing an additional 164,895 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Steel Dynamics during the third quarter worth about $15,880,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $125.00 to $145.00 in a report on Friday, January 24th. 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 on the stock. UBS Group restated a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $145.13.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $132.87 on Tuesday. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 13.56 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 business’s 50-day moving average price is $123.85 and its 200-day moving average price is $126.33. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its 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 return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the business earned $2.61 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Steel Dynamics 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.