Chicago Equity Partners LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 189.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,705 shares of the basic materials company’s stock after purchasing an additional 116,925 shares during the period. Chicago Equity Partners LLC owned about 0.07% of Steel Dynamics worth $6,399,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Advantage Investment Management LLC grew its stake in Steel Dynamics by 39.6% in the 1st quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 950 shares in the last quarter. Washington Trust Bank grew its stake in Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 1,113 shares in the last quarter. Advisory Services Network LLC bought a new position in Steel Dynamics in the 1st quarter worth about $150,000. IFP Advisors Inc grew its stake in Steel Dynamics by 163.8% in the 1st quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock worth $152,000 after acquiring an additional 2,711 shares in the last quarter. Finally, Creative Planning grew its stake in Steel Dynamics by 36.3% in the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 1,256 shares in the last quarter. Institutional investors own 82.70% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ STLD) traded down 0.15% on Friday, hitting $33.34. 4,430,077 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $34.61 and its 200-day moving average price is $34.97. Steel Dynamics, Inc. has a 12-month low of $23.34 and a 12-month high of $40.17. The company has a market cap of $8.00 billion, a PE ratio of 15.31 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $0.58 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post $2.79 earnings per share for the current year.
STLD has been the topic of a number of research analyst reports. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Wednesday, May 24th. Bank of America Corporation upped their price target on shares of Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Steel Dynamics in a research report on Monday, June 26th. Cowen and Company reaffirmed a “buy” rating and issued a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Finally, BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $39.68.
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In related news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now directly owns 26,778 shares in the company, valued at $1,018,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now 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 company insiders.
Steel Dynamics Company Profile
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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