Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,105,284 shares of the basic materials company’s stock after selling 8,945 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.50% of Steel Dynamics worth $33,380,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STLD. LSV Asset Management increased its holdings in Steel Dynamics by 293.0% in the first quarter. LSV Asset Management now owns 1,138,474 shares of the basic materials company’s stock worth $40,153,000 after purchasing an additional 848,774 shares in the last quarter. BlackRock Inc. grew its stake in Steel Dynamics by 3.4% in the first quarter. BlackRock Inc. now owns 24,696,468 shares of the basic materials company’s stock valued at $871,044,000 after acquiring an additional 802,211 shares during the period. WINTON GROUP Ltd grew its stake in Steel Dynamics by 2,223.1% in the second quarter. WINTON GROUP Ltd now owns 679,378 shares of the basic materials company’s stock valued at $20,517,000 after acquiring an additional 650,134 shares during the period. Marshall Wace LLP grew its stake in Steel Dynamics by 1,482.6% in the first quarter. Marshall Wace LLP now owns 593,892 shares of the basic materials company’s stock valued at $20,947,000 after acquiring an additional 556,366 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Steel Dynamics by 39.5% in the first quarter. Wells Fargo & Company MN now owns 1,808,727 shares of the basic materials company’s stock valued at $63,795,000 after acquiring an additional 511,991 shares during the period. Institutional investors and hedge funds own 80.91% of the company’s stock.

STLD has been the subject of a number of research reports. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.50 to $47.00 in a research note on Wednesday, May 8th. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research note on Wednesday, July 24th. Deutsche Bank reissued a “hold” rating on shares of Steel Dynamics in a research note on Thursday, June 27th. Goldman Sachs Group reduced their price objective on Steel Dynamics from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, Credit Suisse Group cut Steel Dynamics from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $29.00 in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $39.67.

Shares of NASDAQ:STLD opened at $27.88 on Wednesday. The stock has a market capitalization of $6.11 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 0.74 and a beta of 1.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 4.35. Steel Dynamics, Inc. has a 12-month low of $25.02 and a 12-month high of $48.17. The firm’s 50 day moving average is $30.34.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 22nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 3.19 earnings per share for the current year.

In related news, Director Gabriel Shaheen bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $27.03 per share, with a total value of $135,150.00. Following the completion of the transaction, the director now directly owns 58,635 shares in the company, valued at $1,584,904.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Russell B. Rinn bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average cost of $25.58 per share, for a total transaction of $51,160.00. Following the transaction, the insider now owns 220,459 shares of the company’s stock, valued at $5,639,341.22. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,740 shares of company stock worth $336,296. 4.90% of the stock is owned by insiders.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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