Steel Dynamics, Inc. (NASDAQ:STLD) marched up 22% compared to a 52-week low price of $25.02. The shares were last seen trading 2.21% higher, taking the closing price at $30.53 on 6/26/2019. At a recent session, the prices were hovering between $29.18 and $30.4. This company shares are 20.9% off its target price of $36.91 and the current market capitalization stands at $6.77B. The recent change has given its price a 2.76% lead over SMA 50 and -38.57% deficit over its 52-week high. The stock witnessed 12.2% gains, -11.86% declines and 5.09% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found STLD’s volatility during a week at 3.75% and during a month it has been found around 3.28%.
What Does Steel Dynamics, Inc. (STLD) Do?
The company describes itself in regulatory filings as, “Steel Dynamics, Inc. engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Other. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting. The Metals Recycling Operations segment provides an array of both ferrous and non-ferrous scrap recycling, scrap management, transportation, and brokerage products and services. The Steel Fabrication Operations segment offers steel joists, girders, and steel deck, including specialty deck. The Other segment comprises of subsidiary operations and certain unallocated corporate accounts. The company was founded by Keith E. Busse, Mark D. Millett, Richard P. Teets and John C. Bates in August 1993 and is headquartered in Fort Wayne, IN.” [Text can be found here: https://www.marketwatch.com/investing/stock/STLD/profile under company description.]Steel Dynamics, Inc. (STLD) Top Holders
Institutional investors currently hold around $5.54 billion or 85.5% in STLD stock. Look at its top three institutional owners: Blackrock Inc. owns $737.68 million in Steel Dynamics, Inc., which represents roughly 10.9% of the company’s market cap and approximately 13.32% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 21,533,779 shares of the stock are valued at $643.21 million. The third largest holder is State Street Corp, which currently holds $255.62 million worth of this stock and that ownership represents nearly 3.78% of its market capitalization.Steel Dynamics, Inc. 13F Filings
At the end of March reporting period, 240 institutional holders increased their position in Steel Dynamics, Inc. (NASDAQ:STLD) by some 21,312,420 shares, 226 decreased positions by 22,178,752 and 79 held positions by 141,970,870. That puts total institutional holdings at 185,462,042 shares, according to SEC filings. The stock grabbed 54 new institutional investments totaling 2,601,181 shares while 48 institutional investors sold out their entire positions totaling 7,343,902 shares.Steel Dynamics, Inc. (NASDAQ:STLD) Insider Trades
Multiple company employees have indulged in significant insider trading. Steel Dynamics, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Senior Vice President Pushis Glenn has acquired 5,740 shares of Steel Dynamics, Inc. (STLD) in the trading session dated Jun. 05, 2019. These shares are worth $149,986 and were traded at $26.13 each. The SEC filing shows that RINN RUSSELL B performed a purchase of 2,000 shares. The Executive Vice President added these shares by way of transaction on May. 31, 2019. The company’s shares were assimilated at $25.58 per share worth to an investment of some $51,160 to the account of RINN RUSSELL B.
Director, Shaheen Gabriel, purchased 5,000 common shares of Steel Dynamics, Inc. (STLD) in the open market. In a transaction dated May. 24, 2019, the shares were bought at an average price of $27.03, giving away a sum of $135,150. After this purchase, 61,635 common shares of STLD are directly owned by the insider, with total stake valued at $1,881,717.
In the transaction dated Nov. 28, 2018, a great number of shares acquired came courtesy the Director; TEETS RICHARD P JR added a total of 20,000 shares at an average price of $33.85, amounting to approximately $677,000. The insider now directly owns 5,116,868 shares worth $156,217,980.Steel Dynamics, Inc. (STLD) Analyst Guide
Several analysts have released their opinion on Steel Dynamics, Inc. (NASDAQ:STLD), with 4 analysts believing it is a strong buy. Whereas 5 of them predict the stock is a hold. Also, there are 4 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.08 average brokerage recommendation [T1].