Fisher Funds Management LTD Takes $13.28 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Fisher Funds Management LTD bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 116,156 shares of the basic materials company’s stock, valued at approximately $13,283,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the 4th quarter worth about $28,000. Private Trust Co. NA increased its stake in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new position in Steel Dynamics in the 4th quarter worth about $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics in the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced 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. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. 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.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Stock Down 3.2 %

Shares of Steel Dynamics stock opened at $130.71 on Friday. 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 price-to-earnings ratio of 13.34, a PEG ratio of 1.05 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. The firm’s 50-day moving average is $123.78 and its two-hundred day moving average is $126.83.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 in the prior year, the firm earned $2.61 earnings per share. As a group, research analysts expect 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 firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.00% of the company’s stock.

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.