Steel Dynamics, Inc. (STLD) Shares Bought by Swiss National Bank

Swiss National Bank grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 891,400 shares of the basic materials company’s stock after buying an additional 7,600 shares during the quarter. Swiss National Bank owned 371,617.96% of Steel Dynamics worth $30,727,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STLD. Toronto Dominion Bank purchased a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $107,000. Hefty Wealth Partners boosted its stake in shares of Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after buying an additional 1,477 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Steel Dynamics by 48.8% during the 2nd 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. Advisory Services Network LLC boosted its stake in shares of Steel Dynamics by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after buying an additional 101 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Steel Dynamics by 36.3% during the 2nd 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. Institutional investors own 82.31% of the company’s stock.

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Several brokerages recently issued reports on STLD. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Bank of America Corporation raised their price objective on Steel Dynamics from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Cowen and Company set a $43.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup Inc. raised their price objective on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Friday, October 20th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.70.

Steel Dynamics, Inc. (STLD) opened at $36.95 on Friday. The company has a market capitalization of $8,771.96, a price-to-earnings ratio of 14.57, a PEG ratio of 1.16 and a beta of 1.40. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. sell-side analysts predict that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal year.

Steel Dynamics 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.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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