Steel Dynamics, Inc. (STLD) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 103.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,131 shares of the basic materials company’s stock after acquiring an additional 22,490 shares during the period. CIBC Asset Management Inc’s holdings in Steel Dynamics were worth $1,903,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STLD. State Street Corp grew its stake in Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after buying an additional 1,346,487 shares in the last quarter. SG Capital Management LLC purchased a new position in Steel Dynamics in the 4th quarter worth approximately $36,928,000. Boston Partners grew its stake in Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after buying an additional 593,498 shares in the last quarter. Prudential Financial Inc. grew its stake in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after buying an additional 539,480 shares in the last quarter. Finally, Korea Investment CORP grew its stake in Steel Dynamics by 129.6% in the 3rd quarter. Korea Investment CORP now owns 681,300 shares of the basic materials company’s stock worth $23,484,000 after buying an additional 384,600 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at $43.57 on Friday. The firm has a market cap of $10,510.00, a P/E ratio of 12.93, a PEG ratio of 0.92 and a beta of 1.34. The company has a quick ratio of 2.29, a current ratio of 4.04 and a debt-to-equity ratio of 0.74. Steel Dynamics, Inc. has a 1-year low of $32.15 and a 1-year high of $48.28.

A number of research firms have commented on STLD. ValuEngine raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen set a $60.00 price objective on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Monday, February 5th. Jefferies Group restated a “buy” rating on shares of Steel Dynamics in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, BidaskClub lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.64.

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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.

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

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