Employees Retirement System of Texas grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 69.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,600 shares of the basic materials company’s stock after buying an additional 42,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Steel Dynamics were worth $3,674,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STLD. Tudor Investment Corp ET AL raised its position in shares of Steel Dynamics by 10.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 157,907 shares of the basic materials company’s stock valued at $5,655,000 after acquiring an additional 15,007 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of Steel Dynamics by 2.8% during the 2nd quarter. First Allied Advisory Services Inc. now owns 8,296 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 223 shares in the last quarter. Numeric Investors LLC raised its position in shares of Steel Dynamics by 79.5% during the 2nd quarter. Numeric Investors LLC now owns 861,222 shares of the basic materials company’s stock valued at $30,840,000 after acquiring an additional 381,400 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Steel Dynamics by 1.3% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 220,002 shares of the basic materials company’s stock valued at $7,879,000 after acquiring an additional 2,902 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Steel Dynamics by 467.4% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 10,440 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 8,600 shares in the last quarter. Institutional investors own 82.64% of the company’s stock.

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STLD has been the topic of several research reports. Bank of America Corporation reissued a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Jefferies Group LLC reissued a “buy” rating and set a $45.00 price target on shares of Steel Dynamics in a research report on Monday, June 26th. 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. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Macquarie initiated coverage on Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price target on the stock. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.63.

In other Steel Dynamics 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 value of $190,755.30. Following the completion of 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 filing with the SEC, which is available at the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The shares were 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 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, Inc. (NASDAQ:STLD) opened at 36.17 on Friday. The stock’s 50 day moving average price is $34.20 and its 200-day moving average price is $34.85. Steel Dynamics, Inc. has a one year low of $23.34 and a one year high of $40.17. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 16.61 and a beta of 1.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post $2.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Saturday, September 30th will be given a $0.155 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.62 annualized dividend and a yield of 1.71%. Steel Dynamics’s payout ratio is 28.57%.

About Steel Dynamics

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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