Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 30.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,320 shares of the basic materials company’s stock after selling 2,779 shares during the quarter. XTX Topco Ltd’s holdings in Steel Dynamics were worth $791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in Steel Dynamics by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock worth $642,033,000 after acquiring an additional 451,630 shares during the last quarter. Capital Research Global Investors increased its stake in Steel Dynamics by 29.4% during the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after acquiring an additional 815,629 shares during the last quarter. First Trust Advisors LP increased its stake in Steel Dynamics by 14.1% during the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock worth $362,636,000 after acquiring an additional 393,516 shares during the last quarter. Victory Capital Management Inc. increased its stake in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after acquiring an additional 1,475,767 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Steel Dynamics by 17.1% during the fourth quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company’s stock worth $202,507,000 after acquiring an additional 259,361 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 4.1%

Shares of NASDAQ STLD opened at $122.37 on Monday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $130.79 and a 200-day simple moving average of $128.28. The stock has a market capitalization of $18.17 billion, a PE ratio of 17.84, a PEG ratio of 0.99 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.72 earnings per share. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on STLD. Morgan Stanley raised their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Wall Street Zen cut Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $149.33.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the sale, the senior vice president owned 125,319 shares of the company’s stock, valued at $16,950,647.94. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director directly owned 81,812 shares in the company, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,749 shares of company stock worth $2,702,468 in the last quarter. 6.30% of the stock is owned by company insiders.

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.