Dorsey Wright & Associates boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,372 shares of the basic materials company’s stock after purchasing an additional 9,204 shares during the quarter. Dorsey Wright & Associates’ holdings in Steel Dynamics were worth $4,011,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Steel Dynamics by 9.2% in the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock valued at $785,405,000 after acquiring an additional 1,840,803 shares during the period. Boston Partners boosted its holdings in shares of Steel Dynamics by 11.9% in the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after acquiring an additional 1,742,242 shares during the period. State Street Corp boosted its holdings in shares of Steel Dynamics by 17.9% in the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after acquiring an additional 1,346,487 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Steel Dynamics by 21.7% in the second quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock valued at $146,088,000 after acquiring an additional 727,722 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Steel Dynamics in the second quarter valued at approximately $24,070,000. 82.31% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on STLD shares. Morgan Stanley reissued a “buy” rating on shares of Steel Dynamics in a report on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a report on Wednesday, July 19th. Bank of America Corporation increased their price objective on Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday, July 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price target (up from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Finally, Clarkson Capital reaffirmed a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.09.
Steel Dynamics, Inc. (NASDAQ:STLD) traded up $0.12 during trading hours on Tuesday, reaching $37.35. The company’s stock had a trading volume of 1,439,500 shares, compared to its average volume of 3,138,361. The stock has a market capitalization of $8,960.00, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. 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, Inc. has a 1 year low of $31.57 and a 1 year high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. Steel Dynamics’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. sell-side analysts anticipate that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal 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.
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