Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,588 shares of the basic materials company’s stock after selling 303 shares during the period. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $523,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Holocene Advisors LP grew its stake in shares of Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 22.4% in the 4th 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. Lord Abbett & CO. LLC grew its stake in shares of Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after purchasing an additional 80,262 shares during the last quarter. Institutional investors and hedge funds 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 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. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on STLD shares. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Tuesday. UBS Group reiterated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley raised their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Stock Performance

STLD stock opened at $132.88 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock has a market cap of $20.23 billion, a P/E ratio of 13.56 and a beta of 1.35. The firm has a 50 day simple moving average of $123.38 and a 200 day simple moving average of $126.44. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $2.61 earnings per share. Research analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal 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.