Kentucky Retirement Systems Trims Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Kentucky Retirement Systems cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,861 shares of the basic materials company’s stock after selling 136 shares during the quarter. Kentucky Retirement Systems’ holdings in Steel Dynamics were worth $1,125,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of STLD. Harbour Capital Advisors LLC raised its position in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 6,579 shares during the period. Oak Thistle LLC purchased a new position in Steel Dynamics during the fourth quarter worth about $1,725,000. Foster & Motley Inc. boosted its stake in Steel Dynamics by 8.0% during the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock worth $4,027,000 after buying an additional 2,602 shares during the period. Larson Financial Group LLC increased its position in shares of Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after acquiring an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Tuesday, February 11th. Morgan Stanley boosted their price objective on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. UBS Group restated a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $146.22.

Insider Activity

In related 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $130.71 on Monday. The business’s 50-day moving average is $123.78 and its two-hundred day moving average is $126.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The firm has a market capitalization 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. 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 earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 last year, the firm posted $2.61 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

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.