LSV Asset Management grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 70.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,000 shares of the basic materials company’s stock after acquiring an additional 81,200 shares during the period. LSV Asset Management owned 0.08% of Steel Dynamics worth $7,054,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Washington Trust Bank grew its holdings in Steel Dynamics by 48.8% during 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 during the period. Creative Planning grew its holdings in Steel Dynamics by 36.3% during 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 during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Steel Dynamics during the 2nd quarter worth about $179,000. Nomura Asset Management Co. Ltd. grew its holdings in Steel Dynamics by 11.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 540 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in Steel Dynamics during the 2nd quarter worth about $212,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.
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In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
A number of analysts have weighed in on STLD shares. Clarkson Capital reiterated 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 issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.68.
Steel Dynamics, Inc. (NASDAQ:STLD) opened at 33.34 on Friday. Steel Dynamics, Inc. has a 1-year low of $23.34 and a 1-year high of $40.17. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $34.97. The firm has a market cap of $8.00 billion, a P/E ratio of 15.31 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business 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 business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post $2.79 earnings per share 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.
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