State of New Jersey Common Pension Fund D Reduces Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

State of New Jersey Common Pension Fund D trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,975 shares of the basic materials company’s stock after selling 172 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Steel Dynamics were worth $6,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Harbour Capital Advisors LLC lifted its position in shares of Steel Dynamics by 133.7% during the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 6,579 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at about $1,725,000. Foster & Motley Inc. lifted its position in shares of Steel Dynamics by 8.0% during the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after buying an additional 2,602 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after buying an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

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

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $139.06 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The stock’s 50 day simple moving average is $123.39 and its two-hundred day simple moving average is $126.61. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 14.19 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results 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 in the previous year, the firm posted $2.61 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research note on Tuesday, February 11th. Citigroup decreased their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, UBS Group reissued a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $146.22.

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.