State of New Jersey Common Pension Fund D Reduces Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 53,975 shares of the basic materials company’s stock after selling 172 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Steel Dynamics were worth $6,157,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of STLD. Commerce Bank boosted its holdings in shares of Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after buying an additional 73 shares in the last quarter. M&T Bank Corp raised its stake in shares of Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 88 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 91 shares in the last quarter. Covestor Ltd raised its stake in shares of Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 93 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 2.4 %

STLD stock opened at $139.06 on Wednesday. The firm’s fifty day simple moving average is $123.39 and its 200-day simple moving average is $126.61. The company has a market capitalization of $21.17 billion, a P/E ratio of 14.19 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 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 quarter in the previous year, the company earned $2.61 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on STLD shares. JPMorgan Chase & Co. reduced their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research report on Tuesday, February 11th. Finally, UBS Group reissued a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six research 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 presently has an average rating of “Hold” and an average price target of $146.22.

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.