Howard Bailey Securities LLC Has $1.31 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Howard Bailey Securities LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 107.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,452 shares of the basic materials company’s stock after buying an additional 5,922 shares during the quarter. Howard Bailey Securities LLC’s holdings in Steel Dynamics were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth approximately $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics during the third quarter valued at approximately $61,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on STLD. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Tuesday. UBS Group reissued a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $146.22.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Stock Down 1.9 %

STLD opened at $132.30 on Thursday. The business has a 50 day moving average of $123.50 and a 200-day moving average of $126.40. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.50 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. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly 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 quarter last year, the business earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

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.