Fmr LLC decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,195,293 shares of the basic materials company’s stock after selling 331,383 shares during the quarter. Fmr LLC owned about 2.15% of Steel Dynamics worth $186,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in STLD. Vanguard Group Inc. boosted its holdings in Steel Dynamics by 2.6% in the second quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock valued at $873,945,000 after acquiring an additional 611,096 shares in the last quarter. Northern Trust Corp increased its position in Steel Dynamics by 13.0% during the 2nd quarter. Northern Trust Corp now owns 2,344,629 shares of the basic materials company’s stock valued at $83,961,000 after purchasing an additional 268,931 shares during the period. D.A. Davidson & CO. increased its position in Steel Dynamics by 10.7% during the 2nd quarter. D.A. Davidson & CO. now owns 38,938 shares of the basic materials company’s stock valued at $1,394,000 after purchasing an additional 3,767 shares during the period. UBS Asset Management Americas Inc. increased its position in Steel Dynamics by 194.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 667,177 shares of the basic materials company’s stock valued at $23,892,000 after purchasing an additional 440,231 shares during the period. Finally, Lazard Asset Management LLC increased its position in Steel Dynamics by 121,619.0% during the 2nd quarter. Lazard Asset Management LLC now owns 383,415 shares of the basic materials company’s stock valued at $13,730,000 after purchasing an additional 383,100 shares during the period. 82.64% of the stock is owned by institutional investors.

In related news, insider Christopher A. Graham sold 5,021 shares of the business’s stock in a transaction that occurred 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 $1,018,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $190,755.30. Following the completion of the transaction, the director now directly owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

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Steel Dynamics, Inc. (NASDAQ STLD) opened at 34.86 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $23.34 and a 52 week high of $40.17. The firm’s 50-day moving average price is $34.16 and its 200-day moving average price is $34.84. The stock has a market cap of $8.36 billion, a PE ratio of 16.01 and a beta of 1.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 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 business 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 posted $0.58 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts predict 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. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.155 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.78%. Steel Dynamics’s dividend payout ratio is presently 28.57%.

Several brokerages have commented on STLD. Jefferies Group LLC restated a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a report on Monday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Saturday, June 24th. Berenberg Bank reaffirmed a “buy” rating and set a $46.00 target price on shares of Steel Dynamics in a research note on Monday, June 19th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Bank of America Corporation boosted their price target on shares of Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $40.47.

Steel Dynamics 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.

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

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