Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 114 Shares of Steel Dynamics, Inc. (STLD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,287 shares of the basic materials company’s stock after selling 114 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Steel Dynamics were worth $1,264,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Washington Trust Bank boosted its position in shares of Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after acquiring an additional 1,113 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Steel Dynamics by 163.8% during the 1st quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 2,711 shares in the last quarter. Creative Planning boosted its position in shares of Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 1,256 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $179,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Steel Dynamics by 11.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 540 shares in the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.

Steel Dynamics, Inc. (STLD) opened at 34.21 on Monday. Steel Dynamics, Inc. has a 52 week low of $22.79 and a 52 week high of $40.17. The firm has a 50 day moving average of $35.15 and a 200-day moving average of $35.08. The company has a market capitalization of $8.21 billion, a P/E ratio of 15.71 and a beta of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the company posted $0.58 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post $2.83 earnings per share for the current year.

Several analysts have recently weighed in on the stock. Macquarie assumed coverage on shares of Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 target price on the stock. Bank of America Corporation restated a “buy” rating and issued 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 restated a “buy” rating and issued a $43.00 price target on shares of Steel Dynamics in a research report on Thursday, August 31st. BidaskClub lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Longbow Research restated a “buy” rating and issued a $40.00 price target on shares of Steel Dynamics in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $40.22.

In other news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The transaction 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 the firm’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 transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

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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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