Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Spire Wealth Management

Spire Wealth Management lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 94.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,967 shares of the basic materials company’s stock after selling 33,485 shares during the quarter. Spire Wealth Management’s holdings in Steel Dynamics were worth $224,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA boosted its holdings in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Steel Dynamics during the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new position in shares of Steel Dynamics during the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $128.96 on Friday. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of 13.16 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $124.46 and a 200-day simple moving average of $126.28. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the firm posted $2.61 EPS. On average, analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Citigroup dropped their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $145.13.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% 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.