LSV Asset Management Sells 3,565 Shares of Steel Dynamics, Inc. $STLD

LSV Asset Management decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 972,485 shares of the basic materials company’s stock after selling 3,565 shares during the quarter. LSV Asset Management’s holdings in Steel Dynamics were worth $135,594,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in STLD. State Street Corp grew its position in Steel Dynamics by 3.3% during the second quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after buying an additional 230,582 shares in the last quarter. Norges Bank acquired a new position in Steel Dynamics in the 2nd quarter valued at approximately $339,769,000. Nordea Investment Management AB lifted its position in shares of Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after acquiring an additional 252,108 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 15.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after purchasing an additional 260,104 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after purchasing an additional 5,317 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group set a $165.00 target price on Steel Dynamics in a research report on Tuesday, November 4th. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Citigroup lifted their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley reissued an “equal weight” rating and issued a $194.00 price target (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Finally, The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and an average target price of $182.00.

Steel Dynamics Stock Down 3.0%

STLD opened at $199.51 on Friday. The firm’s 50-day simple moving average is $177.52 and its 200-day simple moving average is $154.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 0.55 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.