Nordea Investment Management AB raised its position in shares of Steel Dynamics Inc. (NASDAQ:STLD) by 159.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,548 shares of the company’s stock after buying an additional 29,222 shares during the period. Nordea Investment Management AB’s holdings in Steel Dynamics were worth $1,188,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its stake in Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock worth $118,000 after buying an additional 1,700 shares during the period. Acrospire Investment Management LLC increased its stake in Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the period. Tower Research Capital LLC TRC increased its stake in Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the period. Loomis Sayles & Co. L P increased its stake in Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Steel Dynamics during the second quarter worth $203,000. Hedge funds and other institutional investors own 82.16% of the company’s stock.
Shares of Steel Dynamics Inc. (NASDAQ:STLD) remained flat at $35.74 during midday trading on Thursday. The stock had a trading volume of 4,167,263 shares. Steel Dynamics Inc. has a 1-year low of $15.32 and a 1-year high of $35.74. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 80.50 and a beta of 1.33. The company has a 50-day moving average of $28.12 and a 200-day moving average of $25.96.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 19th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business earned $2.10 billion during the quarter, compared to analyst estimates of $865.67 million. Steel Dynamics had a return on equity of 14.52% and a net margin of 1.46%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Analysts expect that Steel Dynamics Inc. will post $1.91 EPS for the current fiscal year.
A number of research firms have commented on STLD. Credit Suisse Group AG set a $33.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Saturday, October 8th. BMO Capital Markets reiterated a “buy” rating on shares of Steel Dynamics in a research report on Thursday, October 20th. Berenberg Bank set a $35.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, September 20th. reiterated an “outperform” rating and set a $27.00 target price (down from $29.00) on shares of Steel Dynamics in a research report on Wednesday, September 21st. Finally, Zacks Investment Research downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.96.
In other news, Director Keith E. Busse sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total value of $54,660.00. Following the completion of the sale, the director now owns 1,004,923 shares of the company’s stock, valued at $27,464,545.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by insiders.
Steel Dynamics Company Profile