Pacer Advisors Inc. Lowers Stake in Steel Dynamics, Inc. $STLD

Pacer Advisors Inc. lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,631 shares of the basic materials company’s stock after selling 3,931 shares during the quarter. Pacer Advisors Inc.’s holdings in Steel Dynamics were worth $1,374,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in STLD. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC grew its stake in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in Steel Dynamics in the first quarter worth approximately $31,000. Finally, DV Equities LLC purchased a new position in Steel Dynamics during the 4th quarter worth $33,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Up 0.4%

Steel Dynamics stock opened at $262.45 on Friday. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The business has a fifty day moving average price of $249.51 and a 200-day moving average price of $217.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.50 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the company posted $2.01 EPS. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STLD. Barclays upped their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Morgan Stanley decreased their price objective on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Citigroup raised their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Finally, Bank of America reduced their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $249.00.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.