Chicago Equity Partners LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 189.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,705 shares of the basic materials company’s stock after buying an additional 116,925 shares during the period. Chicago Equity Partners LLC owned approximately 0.07% of Steel Dynamics worth $6,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Jaffetilchin Investment Partners LLC boosted its position in Steel Dynamics by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 10,781 shares of the basic materials company’s stock valued at $375,000 after buying an additional 65 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock valued at $362,000 after buying an additional 154 shares in the last quarter. Alpha Windward LLC boosted its position in Steel Dynamics by 1.1% in the second quarter. Alpha Windward LLC now owns 14,244 shares of the basic materials company’s stock valued at $510,000 after buying an additional 154 shares in the last quarter. ARP Americas LLC boosted its position in Steel Dynamics by 2.6% in the second quarter. ARP Americas LLC now owns 7,783 shares of the basic materials company’s stock valued at $279,000 after buying an additional 200 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Steel Dynamics by 1.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,717 shares of the basic materials company’s stock valued at $527,000 after buying an additional 259 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at 34.77 on Friday. The stock has a 50 day moving average price of $35.51 and a 200-day moving average price of $35.18. The firm has a market capitalization of $8.34 billion, a PE ratio of 15.97 and a beta of 1.26. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the business earned $0.58 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post $2.82 EPS for the current year.

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Several research firms have recently weighed in on STLD. Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Wednesday, May 24th. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Cowen and Company reissued a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Finally, Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Steel Dynamics has an average rating of “Buy” and a consensus price target of $40.59.

In other news, Director Keith E. Busse sold 4,965 shares of the business’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 transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher A. Graham sold 5,021 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the transaction, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

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

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