Steel Dynamics, Inc. (STLD) Shares Bought by Private Advisor Group LLC
Private Advisor Group LLC increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,728 shares of the basic materials company’s stock after acquiring an additional 960 shares during the period. Private Advisor Group LLC’s holdings in Steel Dynamics were worth $535,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Washington Trust Bank raised its holdings in shares of Steel Dynamics by 48.8% during the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 1,113 shares during the period. Creative Planning raised its holdings in shares of Steel Dynamics by 36.3% during the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 1,256 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Steel Dynamics during the second quarter worth $179,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Steel Dynamics by 11.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 540 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth $212,000. Institutional investors and hedge funds own 82.70% of the company’s stock.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Saturday, May 20th. Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective (up from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Bank of America Corporation raised their price objective on shares of Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Citigroup Inc. dropped their price objective on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.68.
In other 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 value of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $190,755.30. Following the completion of the sale, 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. Corporate insiders own 4.20% of the company’s stock.
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Steel Dynamics, Inc. (NASDAQ:STLD) opened at 33.34 on Friday. The stock has a 50 day moving average of $34.61 and a 200-day moving average of $34.97. Steel Dynamics, Inc. has a 12 month low of $23.34 and a 12 month high of $40.17. The company has a market cap of $8.00 billion, a P/E ratio of 15.31 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will post $2.79 EPS for the current year.
Steel Dynamics Company 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.
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