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

Cidel Asset Management Inc. raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,036 shares of the basic materials company’s stock after buying an additional 118 shares during the quarter. Cidel Asset Management Inc.’s holdings in Steel Dynamics were worth $232,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Holocene Advisors LP raised its holdings in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after acquiring an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the period. Nordea Investment Management AB raised its stake in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its position in Steel Dynamics by 192.4% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after purchasing an additional 164,895 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Steel Dynamics during the third quarter worth $15,880,000. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

STLD has been the subject of a number of recent research reports. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Citigroup cut their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $145.13.

Steel Dynamics Trading Down 1.7 %

Shares of STLD opened at $126.71 on Monday. The stock’s fifty day simple moving average is $124.09 and its 200-day simple moving average is $126.29. The firm has a market capitalization of $19.29 billion, a PE ratio of 12.93 and a beta of 1.35. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last released its 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 quarter last year, the company earned $2.61 EPS. As a group, research analysts predict that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.