Rhumbline Advisers Decreases Holdings in Steel Dynamics, Inc. $STLD

Rhumbline Advisers lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,478 shares of the basic materials company’s stock after selling 16,583 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Steel Dynamics worth $39,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Steel Dynamics Stock Down 3.9%

Shares of Steel Dynamics stock opened at $191.68 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The company has a market cap of $27.99 billion, a P/E ratio of 23.93, a PEG ratio of 0.52 and a beta of 1.46. The company’s fifty day simple moving average is $178.05 and its two-hundred day simple moving average is $155.23.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STLD. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. Morgan Stanley restated an “equal weight” rating and issued a $194.00 target price (up previously from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. KeyCorp reiterated an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. BMO Capital Markets raised their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $182.00.

About Steel Dynamics

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.