Airain ltd Boosts Stake in Steel Dynamics, Inc. (STLD)

Airain ltd increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 855.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,479 shares of the basic materials company’s stock after buying an additional 219,774 shares during the period. Airain ltd’s holdings in Steel Dynamics were worth $8,533,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Riverhead Capital Management LLC raised its stake in shares of Steel Dynamics by 76.0% in the third quarter. Riverhead Capital Management LLC now owns 19,200 shares of the basic materials company’s stock worth $480,000 after buying an additional 8,288 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Steel Dynamics by 5.1% in the third quarter. Principal Financial Group Inc. now owns 1,363,224 shares of the basic materials company’s stock worth $34,067,000 after buying an additional 65,683 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Steel Dynamics by 1.1% in the third quarter. Venturi Wealth Management LLC now owns 145,563 shares of the basic materials company’s stock worth $3,638,000 after buying an additional 1,580 shares during the last quarter. Northern Trust Corp raised its stake in shares of Steel Dynamics by 1.6% in the third quarter. Northern Trust Corp now owns 1,916,959 shares of the basic materials company’s stock worth $47,905,000 after buying an additional 31,043 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Steel Dynamics by 18.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 265,024 shares of the basic materials company’s stock worth $6,623,000 after buying an additional 41,700 shares during the last quarter. Institutional investors own 79.46% of the company’s stock.

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

Steel Dynamics, Inc. (NASDAQ:STLD) traded up 1.06% on Friday, hitting $34.22. 2,509,064 shares of the company traded hands. Steel Dynamics, Inc. has a 12 month low of $22.79 and a 12 month high of $40.17. The stock’s 50-day moving average is $34.92 and its 200 day moving average is $35.16. The firm has a market capitalization of $8.27 billion, a P/E ratio of 16.16 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results 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. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Steel Dynamics had a net margin of 4.91% and a return on equity of 17.30%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post $2.99 EPS for the current fiscal year.

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A number of brokerages recently weighed in on STLD. BMO Capital Markets reiterated a “buy” rating and set a $48.00 price objective on shares of Steel Dynamics in a report on Monday, April 24th. Cowen and Company boosted their price target on shares of Steel Dynamics from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, April 24th. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Deutsche Bank AG boosted their price target on shares of Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, Macquarie restated a “neutral” rating on shares of Steel Dynamics in a report on Monday, March 20th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $38.09.

In related news, Director Richard P. Teets, Jr. sold 140,295 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $35.64, for a total value of $5,000,113.80. Following the sale, the director now owns 5,042,939 shares of the company’s stock, valued at $179,730,345.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by company 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.

12 Month Chart for NASDAQ:STLD

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