Keybank National Association OH reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,710 shares of the basic materials company’s stock after selling 1,848 shares during the period. Keybank National Association OH’s holdings in Steel Dynamics were worth $1,196,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in shares of Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after buying an additional 539,480 shares during the period. State of Wisconsin Investment Board increased its position in shares of Steel Dynamics by 10.6% during the third quarter. State of Wisconsin Investment Board now owns 524,479 shares of the basic materials company’s stock valued at $18,079,000 after buying an additional 50,318 shares during the period. BT Investment Management Ltd bought a new stake in shares of Steel Dynamics during the third quarter valued at about $5,411,000. Empirical Finance LLC bought a new stake in shares of Steel Dynamics during the third quarter valued at about $1,158,000. Finally, Dupont Capital Management Corp increased its position in shares of Steel Dynamics by 33.6% during the third quarter. Dupont Capital Management Corp now owns 219,200 shares of the basic materials company’s stock valued at $7,556,000 after buying an additional 55,186 shares during the period. Institutional investors and hedge funds own 82.31% of the company’s stock.
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Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at $37.35 on Tuesday. The stock has a market capitalization of $8,960.00, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95. Steel Dynamics, Inc. has a 52 week low of $31.57 and a 52 week high of $40.17.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. Steel Dynamics’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. equities analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Morgan Stanley set a $36.00 price target on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. Bank of America Corporation upped their price target on Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Cowen and Company set a $43.00 price target on Steel Dynamics and gave the company a “buy” rating in a research report on Friday, October 20th. Citigroup Inc. upped their price target on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research report on Friday, October 20th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $41.09.
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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