Alberta Investment Management Corp Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Alberta Investment Management Corp acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,185 shares of the basic materials company’s stock, valued at approximately $4,470,000.

Several other hedge funds have also bought and sold shares of the stock. Peregrine Capital Management LLC raised its stake in shares of Steel Dynamics by 1.7% during the 4th quarter. Peregrine Capital Management LLC now owns 69,389 shares of the basic materials company’s stock worth $7,915,000 after buying an additional 1,191 shares during the period. Truist Financial Corp raised its stake in shares of Steel Dynamics by 6.5% during the 4th quarter. Truist Financial Corp now owns 66,097 shares of the basic materials company’s stock worth $7,540,000 after buying an additional 4,014 shares during the period. CIBC Asset Management Inc raised its stake in shares of Steel Dynamics by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 23,625 shares of the basic materials company’s stock worth $2,695,000 after buying an additional 386 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Steel Dynamics by 4.0% during the 4th quarter. Sanctuary Advisors LLC now owns 17,556 shares of the basic materials company’s stock worth $2,003,000 after buying an additional 675 shares during the period. Finally, Principal Securities Inc. raised its stake in shares of Steel Dynamics by 38.7% during the 4th quarter. Principal Securities Inc. now owns 2,238 shares of the basic materials company’s stock worth $255,000 after buying an additional 625 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STLD shares. Citigroup reduced their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.22.

Steel Dynamics Stock Down 1.7 %

Shares of NASDAQ:STLD opened at $136.76 on Thursday. 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 business has a fifty day moving average of $123.45 and a two-hundred day moving average of $126.68. The stock has a market cap of $20.82 billion, a P/E ratio of 13.96, a PEG ratio of 1.06 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the firm earned $2.61 earnings per share. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

Steel Dynamics Profile

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.