ING Groep NV Boosts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

ING Groep NV lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,084 shares of the basic materials company’s stock after purchasing an additional 14,892 shares during the quarter. ING Groep NV owned 0.07% of Steel Dynamics worth $11,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Harbour Capital Advisors LLC raised its stake in shares of Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after purchasing an additional 6,579 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Steel Dynamics in the fourth quarter worth $1,725,000. Foster & Motley Inc. raised its stake in shares of Steel Dynamics by 8.0% in the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock worth $4,027,000 after purchasing an additional 2,602 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake 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 last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $135.07 on Friday. 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 12-month low of $104.60 and a 12-month high of $155.56. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35. The firm has a 50 day moving average of $123.62 and a 200 day moving average of $126.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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 quarter in the previous year, the company posted $2.61 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STLD. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Morgan Stanley increased their target price on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.