Steel Dynamics, Inc. (STLD) Shares Sold by Private Wealth Advisors Inc.

Private Wealth Advisors Inc. reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,175 shares of the basic materials company’s stock after selling 2,625 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Steel Dynamics were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. CIBC World Markets Inc. raised its position in Steel Dynamics by 2.9% during the second quarter. CIBC World Markets Inc. now owns 30,787 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 857 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Steel Dynamics by 3.8% in the second quarter. Commonwealth Bank of Australia now owns 257,055 shares of the basic materials company’s stock worth $9,204,000 after buying an additional 9,417 shares during the period. Private Advisor Group LLC increased its holdings in shares of Steel Dynamics by 7.0% in the second quarter. Private Advisor Group LLC now owns 14,728 shares of the basic materials company’s stock worth $535,000 after buying an additional 960 shares during the period. Engineers Gate Manager LP increased its holdings in Steel Dynamics by 308.6% during the 2nd quarter. Engineers Gate Manager LP now owns 75,942 shares of the basic materials company’s stock valued at $2,719,000 after purchasing an additional 57,356 shares during the period. Finally, Tredje AP fonden bought a new stake in Steel Dynamics during the 2nd quarter valued at approximately $492,000. 82.70% of the stock is owned by institutional investors.

Several research firms have weighed in on STLD. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, May 24th. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Finally, Cowen and Company reissued a “buy” rating and issued a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.68.

In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the transaction, the director now owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the transaction, the insider now directly owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Shares of Steel Dynamics, Inc. (STLD) traded down 0.584% during midday trading on Friday, reaching $33.195. 1,575,670 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $34.70 and its 200 day moving average is $35.00. The firm has a market cap of $7.96 billion, a PE ratio of 15.248 and a beta of 1.26. Steel Dynamics, Inc. has a one year low of $23.34 and a one year high of $40.17.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 EPS. Analysts anticipate that Steel Dynamics, Inc. will post $2.79 EPS for the current year.

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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.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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