Handelsbanken Fonder AB Purchases 800 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Handelsbanken Fonder AB increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,400 shares of the basic materials company’s stock after acquiring an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Steel Dynamics were worth $3,924,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Raymond James & Associates increased its stake in Steel Dynamics by 3.3% during the 3rd quarter. Raymond James & Associates now owns 77,210 shares of the basic materials company’s stock valued at $9,735,000 after purchasing an additional 2,472 shares in the last quarter. International Assets Investment Management LLC increased its stake in Steel Dynamics by 1,051.9% during the 3rd 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 in the last quarter. IFM Investors Pty Ltd increased its stake in Steel Dynamics by 21.5% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in Steel Dynamics by 20.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 25,899 shares of the basic materials company’s stock valued at $3,265,000 after purchasing an additional 4,353 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Steel Dynamics by 10.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,252 shares of the basic materials company’s stock valued at $1,795,000 after purchasing an additional 1,327 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, 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 research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Stock Performance

STLD opened at $130.71 on Monday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm’s fifty day simple moving average is $123.78 and its two-hundred day simple moving average is $126.89.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 in the previous year, the company earned $2.61 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Steel Dynamics

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

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.