Steel Dynamics, Inc. (STLD) Position Boosted by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 82,500 shares of the basic materials company’s stock after buying an additional 2,100 shares during the period. Pictet Asset Management Ltd.’s holdings in Steel Dynamics were worth $2,844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Chicago Equity Partners LLC lifted its stake in shares of Steel Dynamics by 189.3% during the second quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock valued at $6,399,000 after buying an additional 116,925 shares during the period. BW Gestao de Investimentos Ltda. raised its stake in Steel Dynamics by 5.0% during the second quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock worth $26,870,000 after purchasing an additional 35,777 shares during the period. Keybank National Association OH raised its stake in Steel Dynamics by 13.9% during the second quarter. Keybank National Association OH now owns 36,558 shares of the basic materials company’s stock worth $1,309,000 after purchasing an additional 4,471 shares during the period. APG Asset Management N.V. purchased a new position in Steel Dynamics during the third quarter worth approximately $9,800,000. Finally, Prudential PLC raised its stake in Steel Dynamics by 22.6% during the second quarter. Prudential PLC now owns 746,247 shares of the basic materials company’s stock worth $26,723,000 after purchasing an additional 137,647 shares during the period. 82.31% of the stock is currently owned by institutional investors and hedge funds.

STLD has been the topic of a number of recent analyst reports. Bank of America Corporation reaffirmed 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. Cowen and Company reaffirmed a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research note on Saturday, July 22nd. Macquarie initiated coverage on shares of Steel Dynamics in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 target price on the stock. Finally, Morgan Stanley reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.09.

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Shares of Steel Dynamics, Inc. (STLD) opened at $37.23 on Monday. The firm has a market cap of $8,821.72, a PE ratio of 14.66, a P/E/G ratio of 1.16 and a beta of 1.40. Steel Dynamics, Inc. has a 52-week low of $31.28 and a 52-week high of $40.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95.

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

About Steel Dynamics

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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