Machina Capital S.A.S. Buys Shares of 4,741 Steel Dynamics, Inc. $STLD

Machina Capital S.A.S. purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,741 shares of the basic materials company’s stock, valued at approximately $661,000.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in Steel Dynamics by 3.3% during the second quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after buying an additional 230,582 shares during the last quarter. Norges Bank bought a new position in shares of Steel Dynamics in the 2nd quarter worth about $339,769,000. Nordea Investment Management AB lifted its stake in shares of Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after purchasing an additional 252,108 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Steel Dynamics by 15.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock valued at $269,947,000 after purchasing an additional 260,104 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock worth $180,620,000 after purchasing an additional 5,317 shares during the period. 82.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STLD. KeyCorp reissued an “overweight” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Wednesday, January 7th. Jefferies Financial Group boosted their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. UBS Group set a $165.00 price target on shares of Steel Dynamics in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company increased their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $182.00.

Steel Dynamics Stock Down 2.9%

Shares of NASDAQ STLD opened at $193.02 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a 50-day moving average price of $174.14 and a 200-day moving average price of $152.14. The stock has a market capitalization of $28.19 billion, a P/E ratio of 24.10, a P/E/G ratio of 0.54 and a beta of 1.46. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $199.60.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.