Raymond James Trust N.A. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,015 shares of the basic materials company’s stock after selling 1,035 shares during the quarter. Raymond James Trust N.A.’s holdings in Steel Dynamics were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in STLD. Shell Asset Management Co. acquired a new position in shares of Steel Dynamics during the 1st quarter valued at about $357,000. First Trust Advisors LP increased its stake 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 valued at $10,692,000 after acquiring an additional 55,415 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Steel Dynamics by 59.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,903 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 3,701 shares during the last quarter. US Bancorp DE increased its stake in shares of Steel Dynamics by 19.9% during the 1st quarter. US Bancorp DE now owns 55,916 shares of the basic materials company’s stock valued at $1,944,000 after acquiring an additional 9,295 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Steel Dynamics by 0.5% during the 1st quarter. Swiss National Bank now owns 402,900 shares of the basic materials company’s stock valued at $14,005,000 after acquiring an additional 2,200 shares during the last quarter. 82.70% of the stock is owned by hedge funds and other institutional investors.

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Steel Dynamics, Inc. (NASDAQ STLD) opened at 33.34 on Friday. The stock has a market cap of $8.00 billion, a PE ratio of 15.31 and a beta of 1.26. The firm has a 50-day moving average price of $34.61 and a 200-day moving average price of $34.97. Steel Dynamics, Inc. has a 12-month low of $23.34 and a 12-month high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the business earned $0.58 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post $2.79 EPS for the current fiscal year.

In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction that occurred 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 directly owns 26,778 shares in the company, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

A number of research analysts have 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 reaffirmed 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 upped 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 reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $42.00) on shares of Steel Dynamics in a research note on Saturday, July 22nd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $39.68.

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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