Steel Dynamics, Inc. (STLD) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,700,582 shares of the basic materials company’s stock after acquiring an additional 81,896 shares during the quarter. Wells Fargo & Company MN owned 0.72% of Steel Dynamics worth $75,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dixon Hubard Feinour & Brown Inc. VA grew its stake in shares of Steel Dynamics by 2.4% during the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 46,729 shares of the basic materials company’s stock worth $2,015,000 after purchasing an additional 1,100 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in shares of Steel Dynamics by 2.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 49,185 shares of the basic materials company’s stock worth $2,121,000 after purchasing an additional 1,306 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Steel Dynamics by 43.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,664 shares of the basic materials company’s stock worth $201,000 after purchasing an additional 1,408 shares in the last quarter. Brave Asset Management Inc. grew its stake in shares of Steel Dynamics by 3.4% during the fourth quarter. Brave Asset Management Inc. now owns 49,385 shares of the basic materials company’s stock worth $2,130,000 after purchasing an additional 1,611 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in shares of Steel Dynamics by 12.0% during the fourth quarter. OLD National Bancorp IN now owns 15,160 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 1,621 shares in the last quarter. 82.84% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ STLD opened at $49.44 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.24 and a quick ratio of 2.38. Steel Dynamics, Inc. has a 1 year low of $32.20 and a 1 year high of $52.10. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.86 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.05. Steel Dynamics had a net margin of 8.59% and a return on equity of 21.60%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Steel Dynamics’s revenue for the quarter was up 10.0% on a year-over-year basis. sell-side analysts anticipate that Steel Dynamics, Inc. will post 4.8 EPS for the current fiscal year.

A number of equities analysts recently commented on STLD shares. BidaskClub downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Citigroup boosted their target price on shares of Steel Dynamics from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Cowen set a $60.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, February 5th. ValuEngine upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Deutsche Bank upped their price objective on shares of Steel Dynamics from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, March 29th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $50.50.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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

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