Steel Dynamics, Inc. (STLD) Stake Raised by Arizona State Retirement System
Arizona State Retirement System boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,900 shares of the basic materials company’s stock after buying an additional 1,100 shares during the period. Arizona State Retirement System’s holdings in Steel Dynamics were worth $3,649,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Steel Dynamics by 11,858.1% in the first quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after buying an additional 19,923,788 shares in the last quarter. Boston Partners boosted its stake in Steel Dynamics by 25.7% in the first quarter. Boston Partners now owns 14,641,570 shares of the basic materials company’s stock valued at $508,941,000 after buying an additional 2,997,302 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in Steel Dynamics during the first quarter valued at $81,408,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Steel Dynamics during the first quarter valued at $46,032,000. Finally, Principal Financial Group Inc. boosted its stake in Steel Dynamics by 73.9% in the first quarter. Principal Financial Group Inc. now owns 2,440,881 shares of the basic materials company’s stock valued at $84,845,000 after buying an additional 1,037,471 shares in the last quarter. 85.59% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (NASDAQ:STLD) opened at 35.51 on Wednesday. The firm has a market cap of $8.52 billion, a P/E ratio of 16.31 and a beta of 1.23. Steel Dynamics, Inc. has a 1-year low of $22.79 and a 1-year high of $40.17. The stock has a 50 day moving average price of $35.99 and a 200 day moving average price of $35.21.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share 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 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics, Inc. will post $2.83 EPS for the current year.
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Several equities research analysts recently weighed in on STLD shares. Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Wednesday, May 24th. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 target price on shares of Steel Dynamics in a report on Monday, June 26th. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, April 21st. Cowen and Company reissued a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a report on Wednesday, July 19th. Finally, BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $39.79.
In other Steel Dynamics news, 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 value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, 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 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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