Truist Financial Corp Acquires 4,014 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Truist Financial Corp boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,097 shares of the basic materials company’s stock after buying an additional 4,014 shares during the period. Truist Financial Corp’s holdings in Steel Dynamics were worth $7,540,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in STLD. Holocene Advisors LP increased its position in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after buying an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC increased its position in Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after buying an additional 548,086 shares during the period. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after buying an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc increased its position in Steel Dynamics by 192.4% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after buying an additional 164,895 shares during the period. Finally, World Investment Advisors LLC bought a new position in Steel Dynamics in the 3rd quarter worth approximately $15,880,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock opened at $130.71 on Friday. The stock’s fifty day simple moving average is $123.78 and its 200 day simple moving average is $126.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.06 and a beta of 1.35. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 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 last year, the business posted $2.61 earnings per share. On average, analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on STLD shares. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. UBS Group reissued a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Morgan Stanley lifted their price objective on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $146.22.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.00% of the company’s stock.

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.