Steel Dynamics, Inc. $STLD Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 21.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,874 shares of the basic materials company’s stock after buying an additional 3,664 shares during the period. Janus Henderson Group PLC’s holdings in Steel Dynamics were worth $3,758,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Prosperity Bancshares Inc acquired a new position in Steel Dynamics during the 4th quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC lifted its position in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics during the first quarter worth $31,000. Finally, DV Equities LLC acquired a new position in shares of Steel Dynamics during the fourth quarter worth $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.4%

Steel Dynamics stock opened at $262.45 on Friday. The company has a market capitalization of $37.62 billion, a P/E ratio of 23.79, a PEG ratio of 0.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The stock has a 50-day simple moving average of $249.51 and a 200-day simple moving average of $217.18.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the business posted $2.01 EPS. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on STLD shares. Wells Fargo & Company cut their price target on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Barclays increased their price objective on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Citigroup boosted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. BMO Capital Markets upped their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Wednesday, July 29th. They set a “buy” rating and a $300.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.00.

Insider Buying and Selling at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is owned by corporate insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.