Cidel Asset Management Inc. Acquires 118 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Cidel Asset Management Inc. increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the basic materials company’s stock after purchasing an additional 118 shares during the period. Cidel Asset Management Inc.’s holdings in Steel Dynamics were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Atomi Financial Group Inc. acquired a new position in Steel Dynamics in the 3rd quarter worth $232,000. Brookstone Capital Management lifted its holdings in shares of Steel Dynamics by 196.8% in the third quarter. Brookstone Capital Management now owns 8,980 shares of the basic materials company’s stock valued at $1,132,000 after purchasing an additional 5,954 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Steel Dynamics by 350.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 900 shares of the basic materials company’s stock worth $114,000 after buying an additional 700 shares during the period. Valeo Financial Advisors LLC grew its holdings in shares of Steel Dynamics by 45.0% during the third quarter. Valeo Financial Advisors LLC now owns 4,828 shares of the basic materials company’s stock worth $609,000 after buying an additional 1,498 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in Steel Dynamics by 0.3% in the 3rd quarter. Gateway Investment Advisers LLC now owns 56,034 shares of the basic materials company’s stock valued at $7,065,000 after buying an additional 156 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on STLD shares. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Citigroup reduced their target price 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 research note on Friday, January 3rd. Morgan Stanley increased their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $145.13.

Steel Dynamics Trading Down 1.7 %

Shares of NASDAQ:STLD opened at $126.71 on Monday. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. 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 company has a market capitalization of $19.29 billion, a P/E ratio of 12.93 and a beta of 1.35. The company has a 50-day simple moving average of $124.09 and a 200 day simple moving average of $126.29.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 period last year, the firm earned $2.61 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction dated 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 owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics 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 sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Steel Dynamics Company 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.