Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,861 shares of the basic materials company’s stock after selling 136 shares during the period. Kentucky Retirement Systems’ holdings in Steel Dynamics were worth $1,125,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, Citigroup decreased their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average target price of $146.22.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $130.71 on Monday. The stock’s 50 day moving average price is $123.78 and its 200 day moving average price is $126.89. The firm has a market cap of $19.90 billion, a P/E ratio of 13.34, a PEG ratio of 1.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data 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 net margin of 8.76% and a return on equity of 17.32%. During the same period in the previous year, the company earned $2.61 earnings per share. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

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.