Assetmark Inc. Sells 379,543 Shares of Steel Dynamics, Inc. $STLD

Assetmark Inc. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 97.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,493 shares of the basic materials company’s stock after selling 379,543 shares during the quarter. Assetmark Inc.’s holdings in Steel Dynamics were worth $1,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lingohr Asset Management GmbH raised its position in shares of Steel Dynamics by 1,284.8% in the third quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock valued at $5,636,000 after buying an additional 37,504 shares in the last quarter. Ninety One UK Ltd increased its stake in Steel Dynamics by 33.5% during the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock worth $16,712,000 after acquiring an additional 30,102 shares during the period. Rakuten Investment Management Inc. acquired a new position in Steel Dynamics in the 3rd quarter valued at $8,592,000. Forvis Mazars Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the 3rd quarter valued at $1,047,000. Finally, Mediolanum International Funds Ltd lifted its position in shares of Steel Dynamics by 157.2% during the 3rd quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock valued at $28,629,000 after acquiring an additional 125,981 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Down 1.1%

Shares of NASDAQ:STLD opened at $190.58 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The company has a market capitalization of $27.83 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $208.47. The company has a fifty day moving average of $179.87 and a 200-day moving average of $156.86.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 EPS. On average, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STLD. Citigroup boosted their price target on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group boosted their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research note on Tuesday, November 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Five investment 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 a consensus rating of “Hold” and a consensus target price 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.