Andra AP fonden purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 90,800 shares of the basic materials company’s stock, valued at approximately $3,252,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STLD. First Trust Advisors LP increased its position in shares of Steel Dynamics by 22.0% in the first quarter. First Trust Advisors LP now owns 307,586 shares of the basic materials company’s stock valued at $10,692,000 after buying an additional 55,415 shares during the last quarter. LSV Asset Management purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $4,025,000. State Treasurer State of Michigan increased its position in shares of Steel Dynamics by 0.3% in the first quarter. State Treasurer State of Michigan now owns 98,500 shares of the basic materials company’s stock valued at $3,424,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Steel Dynamics by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 176,106 shares of the basic materials company’s stock valued at $6,121,000 after buying an additional 8,246 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $150,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 34.45 on Friday. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 15.82 and a beta of 1.23. The company’s 50-day moving average is $35.57 and its 200 day moving average is $35.20. Steel Dynamics, Inc. has a 1-year low of $22.79 and a 1-year high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the business earned $0.58 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post $2.82 EPS for the current year.

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Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Clarkson Capital restated a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Bank of America Corporation raised their price objective on shares of Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective (up previously from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $40.59.

In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the transaction, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Steel Dynamics Company Profile

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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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