Charles Schwab Investment Management Inc. grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,405,666 shares of the basic materials company's stock after buying an additional 30,759 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.94% of Steel Dynamics worth $175,821,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in STLD. ASR Vermogensbeheer N.V. purchased a new position in Steel Dynamics during the first quarter worth about $7,043,000. Hemington Wealth Management boosted its stake in Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Allianz SE boosted its stake in Steel Dynamics by 138.1% in the first quarter. Allianz SE now owns 7,500 shares of the basic materials company's stock valued at $938,000 after acquiring an additional 4,350 shares during the last quarter. Finally, Blair William & Co. IL purchased a new position in Steel Dynamics in the first quarter valued at about $214,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on STLD. Wells Fargo & Company began coverage on shares of Steel Dynamics in a research note on Wednesday. They issued an "overweight" rating and a $143.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley upped their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.70.
Read Our Latest Report on Steel Dynamics
Insider Activity at Steel Dynamics
In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares of the company's stock, valued at $8,456,371.98. This trade represents a 15.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the sale, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,749 shares of company stock valued at $2,702,468. Insiders own 6.30% of the company's stock.
Steel Dynamics Price Performance
NASDAQ STLD traded down $2.78 on Thursday, hitting $126.46. The stock had a trading volume of 313,314 shares, compared to its average volume of 1,626,014. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The company has a market capitalization of $18.62 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38. The firm has a 50-day moving average of $129.86 and a 200-day moving average of $128.21.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. Steel Dynamics's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.72 EPS. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.
About Steel Dynamics
(
Free Report)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
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