BTC Capital Management Inc. Purchases 4,630 Shares of Steel Dynamics, Inc. $STLD

BTC Capital Management Inc. raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,448 shares of the basic materials company’s stock after buying an additional 4,630 shares during the quarter. BTC Capital Management Inc.’s holdings in Steel Dynamics were worth $12,331,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Cornerstone Planning Group LLC increased its stake in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares in the last quarter. Rosenberg Matthew Hamilton boosted its stake in Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 199 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 100 shares during the period. Covestor Ltd increased its stake in shares of Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Finally, CNB Bank bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $43,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $191.68 on Friday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The firm has a market capitalization of $27.99 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 0.54 and a beta of 1.46. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $178.05 and a 200 day moving average of $155.04.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. KeyCorp reiterated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company raised their price target on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Finally, Citigroup upped their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $182.00.

Steel Dynamics Company 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.