Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,351 shares of the basic materials company’s stock, valued at approximately $1,409,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Steel Dynamics by 2.5% in the first quarter. Vanguard Group Inc. now owns 23,793,953 shares of the basic materials company’s stock valued at $827,077,000 after buying an additional 590,652 shares during the last quarter. BlackRock Inc. raised its position in shares of Steel Dynamics by 11,858.1% in the first quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after buying an additional 19,923,788 shares during the last quarter. Boston Partners raised its position in shares of Steel Dynamics by 25.7% in the first quarter. Boston Partners now owns 14,641,570 shares of the basic materials company’s stock valued at $508,941,000 after buying an additional 2,997,302 shares during the last quarter. State Street Corp raised its position in shares of Steel Dynamics by 2.9% in the first quarter. State Street Corp now owns 7,510,647 shares of the basic materials company’s stock valued at $261,070,000 after buying an additional 209,388 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Steel Dynamics by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,474,765 shares of the basic materials company’s stock valued at $155,543,000 after buying an additional 745,978 shares during the last quarter. 85.59% of the stock is currently owned by institutional investors.

Steel Dynamics, Inc. (NASDAQ:STLD) traded down 0.75% during trading on Friday, reaching $34.29. 2,381,928 shares of the company’s stock traded hands. The company’s 50 day moving average is $36.03 and its 200-day moving average is $35.21. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 15.75 and a beta of 1.23.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics, Inc. will post $2.81 earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on STLD shares. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Berenberg Bank reissued a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research report on Monday, June 19th. Credit Suisse Group raised shares of 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. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Steel Dynamics currently has a consensus rating of “Buy” and a consensus target price of $40.59.

In other news, 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 transaction of $191,049.05. Following the sale, the insider now directly owns 26,778 shares in the company, valued at $1,018,902.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

About Steel Dynamics

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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