Sheaff Brock Investment Advisors LLC Raises Position in Steel Dynamics, Inc. (STLD)
Sheaff Brock Investment Advisors LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,408 shares of the basic materials company’s stock after purchasing an additional 20 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Steel Dynamics were worth $229,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of STLD. BlackRock Inc. lifted its stake in Steel Dynamics by 11,858.1% in the 1st quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after purchasing an additional 19,923,788 shares during the last quarter. Steadfast Capital Management LP bought a new position in Steel Dynamics in the 1st quarter valued at approximately $81,408,000. Boston Partners lifted its stake in Steel Dynamics by 11.9% in the 2nd quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after purchasing an additional 1,742,242 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Steel Dynamics in the 1st quarter valued at approximately $46,032,000. Finally, Principal Financial Group Inc. lifted its stake in Steel Dynamics by 73.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,440,881 shares of the basic materials company’s stock valued at $84,845,000 after purchasing an additional 1,037,471 shares during the last quarter. 82.70% of the stock is owned by institutional investors and hedge funds.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 33.26 on Wednesday. The firm has a market capitalization of $7.98 billion, a PE ratio of 15.28 and a beta of 1.26. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17. The stock’s 50 day moving average is $35.03 and its 200 day moving average is $35.03.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business posted $0.58 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post $2.83 EPS for the current year.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research note on Thursday, July 20th. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Bank of America Corporation increased their price objective on shares of Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Steel Dynamics in a research note on Saturday, July 22nd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.79.
In related news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares in the company, valued at approximately $1,018,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the sale, the director now owns 1,005,666 shares of the company’s stock, 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.
COPYRIGHT VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/13/sheaff-brock-investment-advisors-llc-raises-position-in-steel-dynamics-inc-stld.html.
Steel Dynamics 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.
Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD).
Receive News & Stock Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related stocks with our FREE daily email newsletter.