DekaBank Deutsche Girozentrale increased its stake in Steel Dynamics (NASDAQ:STLD) by 17.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 172,111 shares of the basic materials company’s stock after buying an additional 25,772 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Steel Dynamics worth $7,549,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of STLD. Dorsey Wright & Associates lifted its holdings in shares of Steel Dynamics by 0.9% in the first quarter. Dorsey Wright & Associates now owns 133,626 shares of the basic materials company’s stock worth $5,909,000 after buying an additional 1,127 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of Steel Dynamics by 122.5% in the first quarter. Westpac Banking Corp now owns 44,704 shares of the basic materials company’s stock worth $1,977,000 after buying an additional 24,611 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Steel Dynamics by 13.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 762,417 shares of the basic materials company’s stock worth $33,714,000 after buying an additional 89,921 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Steel Dynamics in the first quarter worth about $8,640,000. Finally, Braun Stacey Associates Inc. purchased a new stake in shares of Steel Dynamics in the first quarter worth about $12,228,000. 85.26% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Steel Dynamics from a “strong-buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 4th. Credit Suisse Group upped their price objective on shares of Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Cowen set a $60.00 price objective on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Deutsche Bank upped their price objective on shares of Steel Dynamics from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, March 29th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $50.50.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Steel Dynamics had a return on equity of 21.60% and a net margin of 8.59%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. research analysts predict that Steel Dynamics will post 4.55 EPS for the current year.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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