Steel Dynamics, Inc. (NASDAQ:STLD) Position Trimmed by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its stake in Steel Dynamics, Inc. by 52.1%, selling 9,668 shares to hold 8,902 shares valued at approximately $1.11 million.
• Several hedge funds have adjusted their holdings, with LPL Financial LLC increasing its stake by 11.3% to own about $11.34 million worth of shares.
• Steel Dynamics reported $2.01 EPS in its latest earnings results, missing analysts' expectations of $2.05, with revenue down 1.5% year-over-year.

Pacer Advisors Inc. lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,902 shares of the basic materials company's stock after selling 9,668 shares during the quarter. Pacer Advisors Inc.'s holdings in Steel Dynamics were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in 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. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Down 4.1%

Shares of Steel Dynamics stock traded down $5.19 during trading on Friday, reaching $122.37. The company had a trading volume of 1,623,228 shares, compared to its average volume of 1,178,673. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.04 and a beta of 1.38. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The firm's fifty day moving average is $130.79 and its 200-day moving average is $128.24. 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 (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. Steel Dynamics's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.72 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STLD shares. Morgan Stanley lifted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, 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. One 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. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction dated 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 owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This trade represents a 5.64% 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 over the last quarter. 6.30% of the stock is owned by company insiders.

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.