abrdn plc Sells 21,425 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

abrdn plc lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 14.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 128,699 shares of the basic materials company’s stock after selling 21,425 shares during the period. abrdn plc’s holdings in Steel Dynamics were worth $14,721,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have recently commented on STLD. StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, Citigroup dropped their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One investment 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, the stock has a consensus rating of “Hold” and an average price target of $145.13.

Insider Activity

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were 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 in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated 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 approximately $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Down 1.7 %

Shares of NASDAQ:STLD opened at $126.71 on Friday. The firm has a market cap of $19.29 billion, a P/E ratio of 12.93 and a beta of 1.35. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business has a fifty day simple moving average of $124.09 and a 200 day simple moving average of $126.27. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates 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 business earned $2.61 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

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.