Steel Dynamics, Inc. $STLD Shares Acquired by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,774.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,793 shares of the basic materials company’s stock after buying an additional 67,962 shares during the quarter. Applied Finance Capital Management LLC’s holdings in Steel Dynamics were worth $10,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of STLD. State Street Corp lifted its holdings in Steel Dynamics by 3.3% in the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock valued at $938,196,000 after acquiring an additional 230,582 shares during the last quarter. Norges Bank acquired a new position in shares of Steel Dynamics in the 2nd quarter worth approximately $339,769,000. Nordea Investment Management AB raised its holdings in shares of Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after purchasing an additional 252,108 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Steel Dynamics by 15.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock valued at $269,947,000 after purchasing an additional 260,104 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after purchasing an additional 5,317 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STLD shares. Jefferies Financial Group lifted their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wells Fargo & Company lifted their target price on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and an average target price of $182.00.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $202.75 on Tuesday. The company has a market capitalization of $29.61 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 0.55 and a beta of 1.46. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $203.98. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $175.53 and its 200-day simple moving average is $153.44.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the prior year, the business earned $1.36 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.