Steel Dynamics, Inc. (STLD) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 21.4% during the first quarter, Holdings Channel reports. The institutional investor owned 903,097 shares of the basic materials company’s stock after selling 245,675 shares during the period. ClariVest Asset Management LLC’s holdings in Steel Dynamics were worth $31,390,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in STLD. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the basic materials company’s stock worth $100,000 after buying an additional 96,824 shares in the last quarter. 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 worth $116,000 after buying an additional 950 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Steel Dynamics during the fourth quarter worth about $141,000. James Investment Research Inc. purchased a new stake in Steel Dynamics during the first quarter worth about $145,000. Finally, Ancora Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter worth about $146,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) traded down 2.12% during trading on Friday, reaching $33.71. The company’s stock had a trading volume of 3,611,189 shares. The stock has a market cap of $8.15 billion, a P/E ratio of 15.92 and a beta of 1.35. The company’s 50 day moving average price is $34.88 and its 200-day moving average price is $35.41. Steel Dynamics, Inc. has a 1-year low of $22.79 and a 1-year high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. Steel Dynamics had a return on equity of 17.30% and a net margin of 4.91%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the business posted $0.26 EPS. Steel Dynamics’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post $3.03 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on STLD shares. Barclays PLC set a $40.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Sunday, January 29th. BMO Capital Markets restated a “buy” rating and set a $48.00 price objective on shares of Steel Dynamics in a research report on Monday, April 24th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, April 21st. Deutsche Bank AG boosted their price objective on Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Finally, Jefferies Group LLC restated a “buy” rating and set a $45.00 price objective on shares of Steel Dynamics in a research report on Thursday, March 16th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Steel Dynamics has a consensus rating of “Buy” and an average target price of $37.91.
In other Steel Dynamics news, Director Richard P. Teets, Jr. sold 140,295 shares of Steel Dynamics stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $35.64, for a total transaction of $5,000,113.80. Following the transaction, the director now directly owns 5,042,939 shares of the company’s stock, valued at approximately $179,730,345.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.
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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