Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,625 shares of the basic materials company’s stock after purchasing an additional 386 shares during the quarter. CIBC Asset Management Inc’s holdings in Steel Dynamics were worth $2,695,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Commerce Bank increased its stake in Steel Dynamics by 1.2% during the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after buying an additional 73 shares during the period. M&T Bank Corp grew its holdings in Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 88 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 91 shares in the last quarter. Covestor Ltd grew its holdings in Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 93 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on STLD. Citigroup lowered their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Morgan Stanley boosted their price target 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, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Trading Down 1.2 %

Shares of Steel Dynamics stock opened at $135.07 on Friday. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.08 and a beta of 1.35. The company has a fifty day simple moving average of $123.62 and a 200-day simple moving average of $126.74. 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 12-month low of $104.60 and a 12-month high of $155.56.

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 quarter last year, the firm posted $2.61 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is owned by company insiders.

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.