Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC reduced its holdings in Steel Dynamics, Inc. by 30.2% during the first quarter, now owning 18,046 shares valued at approximately $2.26 million.
• Steel Dynamics reported a net margin of 6.07% and earnings per share of $2.01 for the last quarter, missing the consensus estimate by $0.04.
• JPMorgan Chase & Co. and Morgan Stanley have increased their price target on Steel Dynamics to $150 and $145, respectively, while the stock has a consensus rating of "Moderate Buy."

Headlands Technologies LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 30.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,046 shares of the basic materials company's stock after selling 7,798 shares during the period. Headlands Technologies LLC's holdings in Steel Dynamics were worth $2,257,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Steel Dynamics during the 1st quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC grew its stake in Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 163 shares during the period. Grove Bank & Trust grew its stake in Steel Dynamics by 194.7% in 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 Steel Dynamics in the 1st quarter valued at $36,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Steel Dynamics in the 1st quarter valued at $38,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 1.1%

Shares of STLD opened at $122.23 on Thursday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The firm's fifty day moving average is $130.52 and its two-hundred day moving average is $128.18. The stock has a market cap of $18.15 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.00 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 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 company's 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 EPS. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on STLD shares. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. 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 note on Friday, June 20th. Finally, Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $149.33.

Insider Activity

In other news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. In 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 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.

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