BW Gestao de Investimentos Ltda. Raises Holdings in Steel Dynamics, Inc. (STLD)
BW Gestao de Investimentos Ltda. boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 44.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,000 shares of the basic materials company’s stock after purchasing an additional 336,650 shares during the period. Steel Dynamics makes up 7.6% of BW Gestao de Investimentos Ltda.’s holdings, making the stock its 2nd biggest holding. BW Gestao de Investimentos Ltda. owned 0.45% of Steel Dynamics worth $37,469,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of STLD. Capstone Asset Management Co. raised its stake in Steel Dynamics by 2.0% during the second quarter. Capstone Asset Management Co. now owns 20,853 shares of the basic materials company’s stock worth $747,000 after purchasing an additional 410 shares during the period. Creative Planning raised its stake in shares of Steel Dynamics by 36.3% in the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 1,256 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $1,409,000. Oregon Public Employees Retirement Fund raised its stake in shares of Steel Dynamics by 27.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 108,521 shares of the basic materials company’s stock valued at $3,886,000 after acquiring an additional 23,100 shares during the period. Finally, LS Investment Advisors LLC raised its stake in shares of Steel Dynamics by 42.7% in the 2nd quarter. LS Investment Advisors LLC now owns 23,119 shares of the basic materials company’s stock valued at $828,000 after acquiring an additional 6,918 shares during the period. 85.80% of the stock is currently owned by institutional investors.
STLD has been the topic of a number of research analyst reports. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $43.00 price target on shares of Steel Dynamics in a research note on Friday, October 6th. Longbow Research reissued a “buy” rating and issued a $40.00 price target on shares of Steel Dynamics in a research note on Thursday, July 27th. Bank of America Corporation reissued a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Finally, Citigroup Inc. reduced their price target on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, September 15th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $41.70.
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Steel Dynamics, Inc. (NASDAQ STLD) traded up $0.34 during midday trading on Monday, reaching $37.19. 185,094 shares of the company’s stock traded hands, compared to its average volume of 3,116,278. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. Steel Dynamics, Inc. has a 12 month low of $32.15 and a 12 month high of $40.17. The firm has a market cap of $8,731.67, a PE ratio of 14.51, a PEG ratio of 1.15 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue was up 16.3% on a year-over-year basis. sell-side analysts predict that Steel Dynamics, Inc. will post 2.67 earnings per share 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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