Meeder Asset Management Inc. Sells 29,952 Shares of Steel Dynamics, Inc. (STLD)
Meeder Asset Management Inc. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 46.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 34,830 shares of the basic materials company’s stock after selling 29,952 shares during the quarter. Meeder Asset Management Inc.’s holdings in Steel Dynamics were worth $1,502,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in STLD. State Street Corp lifted its position in Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after buying an additional 1,346,487 shares during the last quarter. SG Capital Management LLC bought a new stake in Steel Dynamics in the 4th quarter worth approximately $36,928,000. Boston Partners lifted its position in Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after buying an additional 593,498 shares during the last quarter. Prudential Financial Inc. lifted its position in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after buying an additional 539,480 shares during the last quarter. Finally, Korea Investment CORP lifted its position in Steel Dynamics by 129.6% in the 3rd quarter. Korea Investment CORP now owns 681,300 shares of the basic materials company’s stock worth $23,484,000 after buying an additional 384,600 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $44.29 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29. Steel Dynamics, Inc. has a 12-month low of $32.15 and a 12-month high of $48.28. The firm has a market capitalization of $10,243.43, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34.
A number of analysts recently weighed in on STLD shares. BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Morgan Stanley set a $36.00 target price on Steel Dynamics and gave the stock a “hold” rating in a research report on Tuesday, October 24th. KeyCorp set a $49.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Citigroup boosted their target price on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Cowen restated an “outperform” rating and issued a $60.00 target price (up previously from $53.00) on shares of Steel Dynamics in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.64.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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