ASR Vermogensbeheer N.V. Invests $7.04 Million in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• ASR Vermogensbeheer N.V. has invested $7.04 million in Steel Dynamics, acquiring 56,305 shares during the first quarter.
• Steel Dynamics reported earnings per share (EPS) of $2.01, missing analysts' expectations of $2.05, with revenue totaling $4.57 billion for the quarter.
• Institutional ownership of Steel Dynamics is high at 82.41%, with significant stake modifications from several large investors during the same period.

ASR Vermogensbeheer N.V. bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 56,305 shares of the basic materials company's stock, valued at approximately $7,043,000.

Other large investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its position in shares of Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $25,000. Grove Bank & Trust lifted its position in shares of Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after purchasing an additional 183 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $36,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $38,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 1.1%

Shares of NASDAQ STLD opened at $122.23 on Thursday. The stock has a market cap of $18.15 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.00 and a beta of 1.38. The firm has a 50 day moving average price of $130.52 and a 200 day moving average price of $128.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion for 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 firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.72 EPS. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,749 shares of company stock valued at $2,702,468. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STLD has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One 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, the company has an average rating of "Moderate Buy" and an average target price of $149.33.

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.

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