Gateway Investment Advisers LLC cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,162 shares of the basic materials company’s stock after selling 95 shares during the period. Gateway Investment Advisers LLC owned about 0.10% of Steel Dynamics worth $8,994,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of STLD. Advantage Investment Management LLC boosted its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares during the period. James Investment Research Inc. acquired a new stake in Steel Dynamics during the first quarter valued at approximately $145,000. Advisory Services Network LLC acquired a new stake in Steel Dynamics during the first quarter valued at approximately $150,000. IFP Advisors Inc boosted its stake in Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock valued at $152,000 after buying an additional 2,711 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Steel Dynamics during the second quarter valued at approximately $179,000. Institutional investors own 84.05% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) traded up 0.488% on Tuesday, hitting $36.015. The stock had a trading volume of 3,050,454 shares. Steel Dynamics, Inc. has a 1-year low of $22.79 and a 1-year high of $40.17. The firm’s 50-day moving average price is $35.54 and its 200-day moving average price is $35.24. The firm has a market cap of $8.69 billion, a P/E ratio of 16.543 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the firm posted $0.58 EPS. The business’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts predict that Steel Dynamics, Inc. will post $2.83 earnings per share for the current year.
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Several research firms have commented on STLD. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Saturday, May 20th. Jefferies Group LLC reiterated a “buy” rating and set a $43.00 target price (up previously from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Bank of America Corporation boosted their target price on Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, July 18th. Finally, Cowen and Company reiterated a “buy” rating and set a $44.00 target price on shares of Steel Dynamics in a report on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $39.79.
In related news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction on 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 directly owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Steel Dynamics Company 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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