Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,739 shares of the basic materials company’s stock after selling 170 shares during the period. Hartford Investment Management Co.’s holdings in Steel Dynamics were worth $997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter worth approximately $339,000. Creative Planning grew its position in Steel Dynamics by 0.7% in the third quarter. Creative Planning now owns 27,324 shares of the basic materials company’s stock worth $3,445,000 after buying an additional 186 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in shares of Steel Dynamics in the third quarter valued at $640,000. Accurate Wealth Management LLC lifted its position in shares of Steel Dynamics by 4.9% during the 3rd quarter. Accurate Wealth Management LLC now owns 5,721 shares of the basic materials company’s stock valued at $735,000 after acquiring an additional 269 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Steel Dynamics by 85.4% during the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the basic materials company’s stock worth $472,000 after acquiring an additional 1,679 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $135.83 on Friday. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 13.86 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $123.36 and a 200 day simple moving average of $126.48.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly 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 net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the business earned $2.61 EPS. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STLD has been the subject of several analyst reports. Citigroup reduced their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Morgan Stanley lifted their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research report on Tuesday. Finally, StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $146.22.

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.