4,378 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Norden Group LLC

Key Points

• Norden Group LLC has acquired a new stake in Steel Dynamics, Inc. worth approximately $548,000, acquiring a total of 4,378 shares during the first quarter.
• Steel Dynamics recently reported quarterly earnings of $2.01 EPS, falling short of analyst estimates of $2.05 EPS, with a revenue of $4.57 billion for the quarter.
• Analysts have mixed ratings for Steel Dynamics, with price targets ranging from $138.00 to $150.00, resulting in an average rating of "Moderate Buy" and a consensus price target of $149.33.

Norden Group LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,378 shares of the basic materials company's stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after buying an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 531.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock valued at $149,054,000 after buying an additional 1,002,813 shares during the period. Capital Research Global Investors increased its holdings in Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after purchasing an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 8.7% during the 4th 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 purchasing an additional 451,630 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Steel Dynamics by 18,398.4% during the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock worth $55,993,000 after purchasing an additional 445,241 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Price Performance

NASDAQ STLD traded down $5.19 during mid-day trading on Friday, hitting $122.37. The stock had a trading volume of 1,623,228 shares, compared to its average volume of 1,655,474. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.03 and a beta of 1.37. The company has a 50 day simple moving average of $130.85 and a 200 day simple moving average of $128.25. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion for 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 business's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.72 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Analysts Set New Price Targets

STLD has been the topic of several recent research reports. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley upped their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

Insider Activity

In related news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,749 shares of company stock valued at $2,702,468 over the last quarter. Company insiders own 6.30% of the company's stock.

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.