Columbia Partners L L C Investment Management decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 61.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 21,849 shares of the basic materials company’s stock after selling 35,000 shares during the period. Columbia Partners L L C Investment Management’s holdings in Steel Dynamics were worth $753,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of STLD. BlackRock Inc. grew its stake in shares of Steel Dynamics by 9.2% during the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after acquiring an additional 1,840,803 shares during the last quarter. Boston Partners grew its stake in shares of Steel Dynamics by 11.9% during the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock worth $586,703,000 after acquiring an additional 1,742,242 shares during the last quarter. State Street Corp grew its stake in shares of Steel Dynamics by 17.9% during the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after acquiring an additional 1,346,487 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Steel Dynamics by 21.7% during the second quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock worth $146,088,000 after acquiring an additional 727,722 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Steel Dynamics during the second quarter worth about $24,070,000. Institutional investors and hedge funds own 82.31% of the company’s stock.
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Steel Dynamics, Inc. (STLD) traded down $0.10 during trading on Friday, reaching $36.85. The company’s stock had a trading volume of 1,120,000 shares, compared to its average volume of 2,407,697. 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 1-year low of $32.15 and a 1-year high of $40.17. The stock has a market cap of $8,731.68, a price-to-earnings ratio of 14.51, a PEG ratio of 1.15 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. sell-side analysts forecast that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.
STLD has been the topic of a number of research analyst reports. Bank of America Corporation restated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Macquarie initiated coverage on Steel Dynamics in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 target price on the stock. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Friday, October 20th. Finally, Morgan Stanley set a $36.00 target price on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Steel Dynamics presently has an average rating of “Buy” and an average price target of $41.70.
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.
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