Utah Retirement Systems held its stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, Holdings Channel reports. The firm owned 42,741 shares of the basic materials company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Steel Dynamics were worth $1,485,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of STLD. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the basic materials company’s stock valued at $100,000 after buying an additional 96,824 shares during the last quarter. Advantage Investment Management LLC increased its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Steel Dynamics during the fourth quarter valued at $141,000. James Investment Research Inc. purchased a new stake in Steel Dynamics during the first quarter valued at $145,000. Finally, Ancora Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at $146,000. 79.46% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (NASDAQ STLD) traded up 0.35% on Monday, reaching $34.48. The company’s stock had a trading volume of 1,815,217 shares. The firm has a 50-day moving average price of $34.88 and a 200 day moving average price of $35.52. The firm has a market capitalization of $8.34 billion, a P/E ratio of 16.28 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. Steel Dynamics had a return on equity of 17.30% and a net margin of 4.91%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. Equities analysts anticipate that Steel Dynamics, Inc. will post $3.03 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on STLD shares. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, April 21st. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price objective on shares of Steel Dynamics in a report on Wednesday, March 22nd. Deutsche Bank AG increased their price objective on Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a report on Thursday, March 16th. Finally, Berenberg Bank reissued a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a report on Thursday, March 16th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and an average price target of $37.91.
In other Steel Dynamics news, Director Richard P. Teets, Jr. sold 140,295 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $35.64, for a total transaction of $5,000,113.80. Following the completion of the transaction, the director now owns 5,042,939 shares in the company, valued at approximately $179,730,345.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.10% 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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