Lingohr & Partner Asset Management GmbH boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 54.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,113 shares of the basic materials company’s stock after buying an additional 14,762 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in Steel Dynamics were worth $1,464,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Washington Trust Bank increased its holdings in Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after buying an additional 1,113 shares during the last quarter. Creative Planning increased its holdings in Steel Dynamics by 36.3% in the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after buying an additional 1,256 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Steel Dynamics in the second quarter valued at about $179,000. Nomura Asset Management Co. Ltd. increased its holdings in Steel Dynamics by 11.1% in the first quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock valued at $187,000 after buying an additional 540 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in Steel Dynamics in the second quarter valued at about $212,000. 82.70% of the stock is owned by hedge funds and other institutional investors.
In other Steel Dynamics news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the sale, the director now directly owns 1,005,666 shares in the company, valued at $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
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STLD has been the subject of several research analyst reports. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Bank of America Corporation restated a “buy” rating and issued a $44.00 target price (up from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Berenberg Bank restated a “buy” rating and issued a $46.00 target price on shares of Steel Dynamics in a research note on Monday, June 19th. Finally, Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, May 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Steel Dynamics currently has an average rating of “Buy” and a consensus target price of $39.68.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded down 0.15% during trading on Friday, hitting $33.34. The stock had a trading volume of 4,430,077 shares. Steel Dynamics, Inc. has a one year low of $23.34 and a one year high of $40.17. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 15.31 and a beta of 1.26. The stock’s 50-day moving average price is $34.61 and its 200 day moving average price is $34.97.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, equities analysts forecast that Steel Dynamics, Inc. will post $2.79 EPS for the current year.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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