Pacer Advisors Inc. Trims Position in Steel Dynamics, Inc. $STLD

Pacer Advisors Inc. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 34.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,631 shares of the basic materials company’s stock after selling 3,931 shares during the period. Pacer Advisors Inc.’s holdings in Steel Dynamics were worth $1,374,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Jacobi Capital Management LLC raised its holdings in Steel Dynamics by 1.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 55 shares during the period. Optas LLC grew its position in shares of Steel Dynamics by 3.0% during the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 58 shares in the last quarter. Hohimer Wealth Management LLC grew its position in shares of Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares in the last quarter. Wright Investors Service Inc. raised its stake in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after purchasing an additional 64 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Steel Dynamics by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Up 0.4%

Shares of NASDAQ:STLD opened at $262.45 on Friday. The company has a market cap 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, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $249.51 and a 200 day moving average price of $217.18.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price target for the company. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Bank of America decreased their price objective on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

About Steel Dynamics

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.