Federated Investors Inc. PA Has $5.84 Million Position in Steel Dynamics, Inc. (STLD)
Federated Investors Inc. PA cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,938 shares of the basic materials company’s stock after selling 10,513 shares during the period. Federated Investors Inc. PA owned about 0.07% of Steel Dynamics worth $5,835,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Steel Dynamics during the first quarter valued at about $312,000. Shell Asset Management Co. purchased a new position in Steel Dynamics during the first quarter valued at about $357,000. Strs Ohio boosted its position in Steel Dynamics by 0.4% in the first quarter. Strs Ohio now owns 220,167 shares of the basic materials company’s stock valued at $7,653,000 after buying an additional 888 shares in the last quarter. IFP Advisors Inc boosted its position 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, Emerald Advisers Inc. PA purchased a new position in Steel Dynamics during the first quarter valued at about $1,399,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 34.45 on Friday. Steel Dynamics, Inc. has a 12-month low of $22.79 and a 12-month high of $40.17. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 15.82 and a beta of 1.23. The stock’s 50 day moving average is $35.57 and its 200-day moving average is $35.20.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post $2.82 EPS for the current fiscal year.
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STLD has been the subject of several analyst reports. Barclays PLC reiterated a “buy” rating and issued a $43.00 target price on shares of Steel Dynamics in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Saturday, May 20th. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, May 24th. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Finally, Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $40.59.
In other news, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction 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 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. Insiders own 4.20% of the company’s stock.
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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