Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 91.4% during the fourth quarter, Holdings Channel reports. The firm owned 800 shares of the basic materials company’s stock after selling 8,500 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Steel Dynamics were worth $91,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Creative Planning lifted its stake in Steel Dynamics by 0.7% during the 3rd quarter. Creative Planning now owns 27,324 shares of the basic materials company’s stock worth $3,445,000 after acquiring an additional 186 shares in the last quarter. Raymond James & Associates increased its stake in Steel Dynamics by 3.3% during the third quarter. Raymond James & Associates now owns 77,210 shares of the basic materials company’s stock worth $9,735,000 after purchasing an additional 2,472 shares during the period. Greenleaf Trust lifted its position in shares of Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 96 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Steel Dynamics by 1,051.9% in the third quarter. International Assets Investment Management LLC now owns 9,330 shares of the basic materials company’s stock valued at $1,176,000 after purchasing an additional 8,520 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after purchasing an additional 6,779 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 3.2 %

NASDAQ:STLD opened at $130.71 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. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The stock has a market cap of $19.90 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.05 and a beta of 1.35. The stock has a 50-day simple moving average of $123.78 and a 200-day simple moving average of $126.80.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly 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 period last year, the company earned $2.61 earnings per share. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. UBS Group reiterated 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. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Citigroup cut their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. Six 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 stock currently has an average rating of “Hold” and an average price target of $146.22.

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.