Creative Planning Has $169,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)
Creative Planning raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 36.3% during the second quarter, Holdings Channel reports. The institutional investor owned 4,718 shares of the basic materials company’s stock after buying an additional 1,256 shares during the period. Creative Planning’s holdings in Steel Dynamics were worth $169,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Advantage Investment Management LLC boosted its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares in the last quarter. James Investment Research Inc. acquired a new stake in Steel Dynamics during the first quarter valued at approximately $145,000. Advisory Services Network LLC acquired a new stake in Steel Dynamics during the first quarter valued at approximately $150,000. IFP Advisors Inc boosted its stake in Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock valued at $152,000 after buying an additional 2,711 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Steel Dynamics during the second quarter valued at approximately $179,000. Hedge funds and other institutional investors own 84.05% of the company’s stock.
Steel Dynamics, Inc. (STLD) traded up 0.6469% during midday trading on Thursday, hitting $35.7397. The stock had a trading volume of 440,483 shares. The stock’s 50-day moving average is $35.78 and its 200-day moving average is $35.22. Steel Dynamics, Inc. has a one year low of $22.79 and a one year high of $40.17. The company has a market cap of $8.57 billion, a P/E ratio of 16.4170 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the business earned $0.58 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. Equities analysts predict that Steel Dynamics, Inc. will post $2.83 EPS for the current fiscal year.
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STLD has been the topic of several analyst reports. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Friday, April 21st. Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. BMO Capital Markets restated a “buy” rating and issued a $48.00 target price on shares of Steel Dynamics in a research report on Monday, April 24th. Barclays PLC restated a “buy” rating and issued a $43.00 target price on shares of Steel Dynamics in a research report on Monday, May 15th. Finally, Berenberg Bank restated a “buy” rating and issued a $46.00 target price on shares of Steel Dynamics in a research report on Monday, June 19th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.79.
In other news, Director Keith E. Busse sold 4,965 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the transaction, the director now owns 1,005,666 shares of the company’s stock, 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 on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the transaction, the insider now directly owns 26,778 shares of the company’s stock, 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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