Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lowered by Swiss National Bank

Key Points

• The Swiss National Bank reduced its holdings in Steel Dynamics, Inc. by 1.5%, owning 407,900 shares valued at approximately $51 million after selling 6,100 shares.
• Other institutional investors have increased their stakes, with Wealth Enhancement Advisory Services raising its holdings by 31.6%.
• Steel Dynamics reported $2.01 EPS for the last quarter, missing estimates of $2.05, and its revenue fell 1.5% year-over-year.

Swiss National Bank reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,900 shares of the basic materials company's stock after selling 6,100 shares during the quarter. Swiss National Bank owned 0.27% of Steel Dynamics worth $51,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STLD. Ritholtz Wealth Management raised its holdings in shares of Steel Dynamics by 24.4% during the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 1,310 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock valued at $190,000 after acquiring an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after acquiring an additional 6,604 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $16,495,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Steel Dynamics by 124.1% during the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company's stock valued at $119,000 after acquiring an additional 525 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

STLD stock opened at $123.02 on Monday. 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 company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 0.99 and a beta of 1.38. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The firm has a 50 day moving average of $130.46 and a two-hundred day moving average of $128.22.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The business's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.72 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STLD. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley boosted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.33.

Insiders Place Their Bets

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the business's 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 $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of 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. Insiders sold 20,749 shares of company stock valued at $2,702,468 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

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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