Steel Dynamics, Inc. (STLD) Shares Bought by Swiss National Bank
Swiss National Bank grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 119.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 883,800 shares of the basic materials company’s stock after buying an additional 480,900 shares during the period. Swiss National Bank owned approximately 0.37% of Steel Dynamics worth $31,649,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of STLD. Shell Asset Management Co. bought a new position in shares of Steel Dynamics during the 1st quarter worth approximately $357,000. IFP Advisors Inc boosted its holdings in shares of Steel Dynamics by 163.8% during the 1st quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock worth $152,000 after buying an additional 2,711 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Steel Dynamics by 4.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 176,106 shares of the basic materials company’s stock worth $6,121,000 after buying an additional 8,246 shares in the last quarter. LSV Asset Management bought a new position in shares of Steel Dynamics during the 1st quarter worth approximately $4,025,000. Finally, First Trust Advisors LP boosted its holdings in shares of Steel Dynamics by 22.0% during the 1st quarter. First Trust Advisors LP now owns 307,586 shares of the basic materials company’s stock worth $10,692,000 after buying an additional 55,415 shares in the last quarter. Hedge funds and other institutional investors own 82.70% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 34.21 on Friday. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 15.71 and a beta of 1.26. The company has a 50-day moving average price of $35.15 and a 200-day moving average price of $35.08.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, equities analysts anticipate that Steel Dynamics, Inc. will post $2.83 earnings per share for the current year.
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STLD has been the topic of a number of research analyst reports. Barclays PLC restated a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a report on Monday, May 15th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Saturday, May 20th. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, May 24th. BidaskClub cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Finally, Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.22.
In other Steel Dynamics news, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics 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 completion of the transaction, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now owns 1,005,666 shares of the company’s stock, 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 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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