Truist Financial Corp Purchases 4,014 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Truist Financial Corp lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,097 shares of the basic materials company’s stock after acquiring an additional 4,014 shares during the quarter. Truist Financial Corp’s holdings in Steel Dynamics were worth $7,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. Creative Planning raised its position in shares of Steel Dynamics by 0.7% during the third quarter. Creative Planning now owns 27,324 shares of the basic materials company’s stock worth $3,445,000 after acquiring an additional 186 shares during the last quarter. Raymond James & Associates raised its position in shares of Steel Dynamics by 3.3% during the third quarter. Raymond James & Associates now owns 77,210 shares of the basic materials company’s stock worth $9,735,000 after acquiring an additional 2,472 shares during the last quarter. Greenleaf Trust raised its position in shares of Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Steel Dynamics by 1,051.9% in the third quarter. International Assets Investment Management LLC now owns 9,330 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 8,520 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after purchasing an additional 6,779 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 3.2 %

NASDAQ:STLD opened at $130.71 on Friday. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. 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 stock has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.06 and a beta of 1.35. The stock has a 50-day moving average price of $123.78 and a two-hundred day moving average price of $126.80.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the firm earned $2.61 EPS. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on STLD shares. UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a report on Tuesday, February 11th. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. Finally, Citigroup dropped their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $146.22.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is owned by insiders.

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.