James Investment Research Inc. increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1,499.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 66,758 shares of the basic materials company’s stock after buying an additional 62,583 shares during the period. James Investment Research Inc.’s holdings in Steel Dynamics were worth $2,391,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Jaffetilchin Investment Partners LLC raised its position in shares of Steel Dynamics by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 10,781 shares of the basic materials company’s stock worth $375,000 after buying an additional 65 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock worth $362,000 after buying an additional 154 shares during the last quarter. State Treasurer State of Michigan raised its position in shares of Steel Dynamics by 0.3% in the first quarter. State Treasurer State of Michigan now owns 98,500 shares of the basic materials company’s stock worth $3,424,000 after buying an additional 300 shares during the last quarter. Greenwood Capital Associates LLC raised its position in shares of Steel Dynamics by 5.7% in the first quarter. Greenwood Capital Associates LLC now owns 6,015 shares of the basic materials company’s stock worth $209,000 after buying an additional 325 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in Steel Dynamics by 2.0% in the second quarter. Capstone Asset Management Co. now owns 20,853 shares of the basic materials company’s stock valued at $747,000 after buying an additional 410 shares in the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (STLD) traded down 2.62% on Friday, hitting $34.54. 2,276,902 shares of the stock were exchanged. Steel Dynamics, Inc. has a 1-year low of $22.79 and a 1-year high of $40.17. The company has a 50-day moving average price of $35.85 and a 200 day moving average price of $35.22. The company has a market capitalization of $8.29 billion, a PE ratio of 15.87 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. Analysts anticipate that Steel Dynamics, Inc. will post $2.83 EPS for the current fiscal year.
A number of research firms have recently issued reports on STLD. Clarkson Capital restated a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Zacks Investment Research lowered Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Berenberg Bank reiterated a “buy” rating and set a $46.00 price objective on shares of Steel Dynamics in a report on Monday, June 19th. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, May 24th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Steel Dynamics in a report on Saturday, June 24th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Steel Dynamics has an average rating of “Buy” and a consensus price target of $39.79.
In related news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the transaction, the director now directly owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction dated 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 in the company, 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 company insiders.
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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