Secured Retirement Advisors LLC Sells 6,340 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Secured Retirement Advisors LLC trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 59.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,349 shares of the basic materials company’s stock after selling 6,340 shares during the period. Secured Retirement Advisors LLC’s holdings in Steel Dynamics were worth $496,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics during the third quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at about $28,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth about $48,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $135.83 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $20.68 billion, a PE ratio of 13.86 and a beta of 1.35. The stock’s 50 day moving average price is $123.36 and its 200-day moving average price is $126.46. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

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

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a report on Tuesday, February 11th. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.