Banco Santander S.A. Takes $537,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Banco Santander S.A. purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 4,290 shares of the basic materials company's stock, valued at approximately $537,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $25,000. Grove Bank & Trust lifted its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 183 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $36,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $38,000. Finally, Investment Management Corp VA ADV acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $40,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction that occurred on 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 of the company's stock, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction 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 sale, the senior vice president directly owned 66,738 shares of the company's stock, valued at $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,749 shares of company stock valued at $2,702,468. Company insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on STLD shares. JPMorgan Chase & Co. lifted their price objective on 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 objective on 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 downgraded 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 data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

Steel Dynamics Stock Down 0.8%

STLD stock opened at $121.36 on Tuesday. The stock has a market capitalization of $18.02 billion, a P/E ratio of 17.69, a PEG ratio of 0.99 and a beta of 1.38. 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 one year low of $103.17 and a one year high of $155.56. The company has a 50 day moving average price of $130.71 and a two-hundred day moving average price of $128.25.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The firm's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

About Steel Dynamics

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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