XTX Topco Ltd Has $791,000 Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• XTX Topco Ltd has decreased its holdings in Steel Dynamics, Inc. by 30.5% during the first quarter, now owning 6,320 shares valued at approximately $791,000.
• Several other hedge funds have increased their stakes in Steel Dynamics, with Victory Capital Management Inc. boosting its position by 433.1% during the same period.
• Steel Dynamics reported earnings of $2.01 EPS last quarter, missing the consensus estimate, and had a revenue drop of 1.5% year-over-year.

XTX Topco Ltd lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 30.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,320 shares of the basic materials company's stock after selling 2,779 shares during the period. XTX Topco Ltd's holdings in Steel Dynamics were worth $791,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Financial Gravity Asset Management Inc. bought a new position in Steel Dynamics during the first quarter valued at about $25,000. Grove Bank & Trust increased its stake in Steel Dynamics by 194.7% during the first 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 bought a new position in Steel Dynamics during the first quarter valued at about $36,000. Bartlett & CO. Wealth Management LLC bought a new position in Steel Dynamics during the first quarter valued at about $38,000. Finally, Investment Management Corp VA ADV bought a new position in Steel Dynamics during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction on 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 transaction, the senior vice president owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher A. Graham sold 12,000 shares of the company's 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 directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,749 shares of company stock valued at $2,702,468 in the last three months. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

Shares of STLD traded up $1.16 on Friday, hitting $123.23. The company's stock had a trading volume of 528,729 shares, compared to its average volume of 1,630,331. The company has a market capitalization of $18.29 billion, a PE ratio of 17.96, a PEG ratio of 0.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The company has a 50 day moving average price of $130.46 and a 200 day moving average price of $128.15.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.72 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

STLD has been the topic of several research reports. Morgan Stanley boosted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research note 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 given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $149.33.

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.