Principal Financial Group Inc. decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,552,082 shares of the basic materials company’s stock after selling 400,988 shares during the period. Principal Financial Group Inc. owned 0.65% of Steel Dynamics worth $53,500,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of STLD. Chicago Equity Partners LLC increased its position in Steel Dynamics by 189.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock valued at $6,399,000 after purchasing an additional 116,925 shares during the period. BW Gestao de Investimentos Ltda. grew its holdings in shares of Steel Dynamics by 5.0% in the second quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock valued at $26,870,000 after purchasing an additional 35,777 shares in the last quarter. Keybank National Association OH grew its holdings in shares of Steel Dynamics by 13.9% in the second quarter. Keybank National Association OH now owns 36,558 shares of the basic materials company’s stock valued at $1,309,000 after purchasing an additional 4,471 shares in the last quarter. APG Asset Management N.V. purchased a new position in shares of Steel Dynamics in the third quarter valued at $9,800,000. Finally, Prudential PLC grew its holdings in shares of Steel Dynamics by 22.6% in the second quarter. Prudential PLC now owns 746,247 shares of the basic materials company’s stock valued at $26,723,000 after purchasing an additional 137,647 shares in the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
A number of research firms recently weighed in on STLD. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Cowen and Company reissued a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a report on Wednesday, July 19th. Macquarie started coverage on Steel Dynamics in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 price target for the company. Bank of America Corporation restated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $43.00 price target (up from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.70.
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Steel Dynamics, Inc. (NASDAQ:STLD) opened at $36.55 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $31.84 and a 52 week high of $40.17. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $8,850.15, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. equities research analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal year.
About Steel Dynamics
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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