Marshall Wace North America L.P. cut its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 24.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,031 shares of the basic materials company’s stock after selling 44,363 shares during the period. Marshall Wace North America L.P. owned about 0.06% of Steel Dynamics worth $5,005,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STLD. Nordea Investment Management AB purchased a new stake in shares of Steel Dynamics during the first quarter worth $1,546,000. Airain ltd boosted its stake in shares of Steel Dynamics by 855.0% in the first quarter. Airain ltd now owns 245,479 shares of the basic materials company’s stock worth $8,533,000 after buying an additional 219,774 shares in the last quarter. KBC Group NV purchased a new stake in shares of Steel Dynamics during the first quarter worth $790,000. Mason Street Advisors LLC boosted its stake in shares of Steel Dynamics by 0.6% in the first quarter. Mason Street Advisors LLC now owns 114,489 shares of the basic materials company’s stock worth $3,980,000 after buying an additional 694 shares in the last quarter. Finally, Waverton Investment Management Ltd boosted its stake in shares of Steel Dynamics by 3.8% in the second quarter. Waverton Investment Management Ltd now owns 20,874 shares of the basic materials company’s stock worth $747,000 after buying an additional 763 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Steel Dynamics, Inc. (STLD) opened at 34.51 on Wednesday. Steel Dynamics, Inc. has a one year low of $22.79 and a one year high of $40.17. The company’s 50-day moving average price is $35.74 and its 200-day moving average price is $35.22. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 15.85 and a beta of 1.23.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. Steel Dynamics’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post $2.81 EPS for the current year.

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STLD has been the subject of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a research note on Monday, June 26th. Barclays PLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a research note on Friday, May 5th. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Berenberg Bank reiterated a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research note on Monday, June 19th. Finally, BidaskClub lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and an average target price of $40.59.

In other Steel Dynamics news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

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.

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

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