Dimensional Fund Advisors LP Has $173,930,000 Position in Steel Dynamics, Inc. (STLD)

Dimensional Fund Advisors LP cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,888,030 shares of the company’s stock after selling 761,381 shares during the period. Dimensional Fund Advisors LP’s holdings in Steel Dynamics were worth $173,930,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLD. Boston Partners increased its position in Steel Dynamics by 2.2% in the third quarter. Boston Partners now owns 11,284,332 shares of the company’s stock valued at $281,995,000 after buying an additional 241,752 shares during the period. BlackRock Fund Advisors increased its position in Steel Dynamics by 4.4% in the third quarter. BlackRock Fund Advisors now owns 8,917,294 shares of the company’s stock valued at $222,843,000 after buying an additional 374,422 shares during the period. JPMorgan Chase & Co. increased its position in Steel Dynamics by 17.5% in the third quarter. JPMorgan Chase & Co. now owns 4,809,749 shares of the company’s stock valued at $120,195,000 after buying an additional 716,017 shares during the period. Prudential Financial Inc. increased its position in Steel Dynamics by 6.1% in the third quarter. Prudential Financial Inc. now owns 3,678,311 shares of the company’s stock valued at $91,921,000 after buying an additional 212,570 shares during the period. Finally, Wells Fargo & Company MN increased its position in Steel Dynamics by 3.7% in the third quarter. Wells Fargo & Company MN now owns 3,310,120 shares of the company’s stock valued at $82,720,000 after buying an additional 116,785 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded down 0.29% during midday trading on Tuesday, reaching $37.60. 1,896,048 shares of the company’s stock traded hands. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 24.10 and a beta of 1.35. The stock has a 50 day moving average of $35.79 and a 200-day moving average of $30.27. Steel Dynamics, Inc. has a 52-week low of $16.89 and a 52-week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 24th. The company reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Steel Dynamics had a return on equity of 17.30% and a net margin of 4.91%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. On average, equities research analysts expect that Steel Dynamics, Inc. will post $2.55 EPS for the current year.

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Several research analysts have recently weighed in on STLD shares. Macquarie downgraded shares of Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Tuesday, November 29th. Rosenblatt Securities downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $32.00 price objective on the stock. in a research report on Monday, November 14th. Bank of America Corporation raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 26th. Cowen and Company lowered their price objective on shares of Steel Dynamics from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Friday, October 21st. Finally, J P Morgan Chase & Co boosted their price objective on shares of Steel Dynamics from $31.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, November 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Steel Dynamics currently has an average rating of “Buy” and a consensus target price of $33.79.

Steel Dynamics Company Profile

5 Day Chart for NASDAQ:STLD

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD).

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