Entropy Technologies LP Has $450,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Entropy Technologies LP reduced its holdings in Steel Dynamics, Inc. by 81.9% in the first quarter, now holding 3,600 shares valued at approximately $450,000.
• Steel Dynamics' recent quarterly earnings of $2.01 per share fell short of analysts' expectations, with a revenue of $4.57 billion, down by 1.5% year-over-year.
• Institutional investors and hedge funds own 82.41% of Steel Dynamics' stock, reflecting strong institutional interest in the company.

Entropy Technologies LP lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 81.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,600 shares of the basic materials company's stock after selling 16,251 shares during the period. Entropy Technologies LP's holdings in Steel Dynamics were worth $450,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Steel Dynamics in the first quarter worth about $2,405,000. Cynosure Group LLC increased its holdings in shares of Steel Dynamics by 10.5% during the first quarter. Cynosure Group LLC now owns 2,685 shares of the basic materials company's stock worth $336,000 after buying an additional 256 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Steel Dynamics in the first quarter valued at approximately $32,000. Townsquare Capital LLC raised its stake in shares of Steel Dynamics by 340.6% in the first quarter. Townsquare Capital LLC now owns 9,384 shares of the basic materials company's stock valued at $1,174,000 after acquiring an additional 7,254 shares during the last quarter. Finally, Savvy Advisors Inc. raised its stake in shares of Steel Dynamics by 13.8% in the first quarter. Savvy Advisors Inc. now owns 3,242 shares of the basic materials company's stock valued at $406,000 after acquiring an additional 394 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

STLD stock opened at $129.24 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The company has a 50 day moving average price of $129.86 and a 200 day moving average price of $128.21. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The stock has a market capitalization of $19.03 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $2.72 EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. Analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction on Tuesday, May 20th. The shares were 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 owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the sale, the director directly owned 81,812 shares of the company's stock, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,749 shares of company stock valued at $2,702,468. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STLD shares. Wells Fargo & Company started coverage on shares of Steel Dynamics in a research note on Wednesday. They issued an "overweight" rating for the company. Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Morgan Stanley lifted their target price 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, JPMorgan Chase & Co. lifted 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $149.33.

About Steel Dynamics

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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