Vest Financial LLC Has $34.51 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Vest Financial LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 26.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,535 shares of the basic materials company’s stock after buying an additional 62,478 shares during the quarter. Vest Financial LLC owned approximately 0.20% of Steel Dynamics worth $34,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Holocene Advisors LP grew its holdings in shares of 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 valued at $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after buying an additional 548,086 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 22.4% during 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 buying an additional 253,802 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its holdings in shares of Steel Dynamics by 192.4% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after buying an additional 164,895 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of Steel Dynamics in the 3rd quarter valued at $15,880,000. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

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

Steel Dynamics Trading Down 1.7 %

STLD opened at $126.71 on Friday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a fifty day moving average of $124.09 and a 200-day moving average of $126.27. The stock has a market cap of $19.29 billion, a PE ratio of 12.93 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates 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 company earned $2.61 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STLD. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. Finally, Citigroup decreased their price target 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average price target of $145.13.

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.