Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Choreo LLC

Choreo LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,895 shares of the basic materials company’s stock after selling 86 shares during the quarter. Choreo LLC’s holdings in Steel Dynamics were worth $329,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STLD. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Steel Dynamics by 15.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,406 shares of the basic materials company’s stock valued at $1,893,000 after acquiring an additional 2,154 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at about $72,000. E. Ohman J or Asset Management AB lifted its holdings in Steel Dynamics by 18.2% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,500 shares of the basic materials company’s stock valued at $741,000 after acquiring an additional 1,000 shares during the last quarter. Columbus Macro LLC lifted its holdings in Steel Dynamics by 31.5% in the 4th quarter. Columbus Macro LLC now owns 2,271 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 544 shares during the last quarter. Finally, Optas LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Price Performance

Shares of STLD opened at $132.88 on Friday. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of 13.56 and a beta of 1.35. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The business’s 50-day moving average is $123.38 and its 200-day moving average is $126.44.

Steel Dynamics (NASDAQ:STLD) last issued its 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 net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the company posted $2.61 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 8.9 EPS 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.