Prudential Financial Inc. boosted its position in Steel Dynamics Inc. (NASDAQ:STLD) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,678,311 shares of the company’s stock after buying an additional 212,570 shares during the period. Prudential Financial Inc. owned 1.51% of Steel Dynamics worth $91,921,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Steel Dynamics by 23.7% in the second quarter. Vanguard Group Inc. now owns 20,810,938 shares of the company’s stock valued at $509,869,000 after buying an additional 3,982,588 shares during the period. Boston Partners increased its stake in shares of Steel Dynamics by 124.9% in the second quarter. Boston Partners now owns 11,042,580 shares of the company’s stock valued at $270,544,000 after buying an additional 6,132,303 shares during the period. BlackRock Fund Advisors increased its stake in shares of Steel Dynamics by 6.2% in the second quarter. BlackRock Fund Advisors now owns 8,542,872 shares of the company’s stock valued at $209,300,000 after buying an additional 496,570 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Steel Dynamics by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,266,562 shares of the company’s stock valued at $202,531,000 after buying an additional 508,330 shares during the period. Finally, State Street Corp boosted its stake in Steel Dynamics by 3.7% in the second quarter. State Street Corp now owns 7,602,249 shares of the company’s stock valued at $186,255,000 after buying an additional 272,753 shares in the last quarter. 80.33% of the stock is currently owned by institutional investors.

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

Shares of Steel Dynamics Inc. (NASDAQ:STLD) opened at 35.48 on Tuesday. The firm has a market cap of $8.65 billion, a PE ratio of 79.91 and a beta of 1.33. The company’s 50-day moving average price is $28.88 and its 200-day moving average price is $26.16. Steel Dynamics Inc. has a 52-week low of $15.32 and a 52-week high of $35.97.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 19th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.67 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $865.67 million. Steel Dynamics had a net margin of 1.46% and a return on equity of 14.52%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Equities analysts expect that Steel Dynamics Inc. will post $1.91 earnings per share for the current fiscal year.

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Several research firms recently commented on STLD. Credit Suisse Group AG set a $33.00 target price on Steel Dynamics and gave the company a “buy” rating in a research report on Saturday, October 8th. Zacks Investment Research cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Berenberg Bank restated a “buy” rating and issued a $35.00 target price on shares of Steel Dynamics in a research report on Tuesday, August 2nd. Cowen and Company set a $33.00 target price on Steel Dynamics and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Rosenblatt Securities cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $29.22.

In other Steel Dynamics news, Director Keith E. Busse sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.33, for a total transaction of $54,660.00. Following the completion of the sale, the director now owns 1,004,923 shares in the company, valued at approximately $27,464,545.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Steel Dynamics Company Profile

5 Day Chart for NASDAQ:STLD

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