Empirical Finance LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,568 shares of the basic materials company’s stock, valued at approximately $1,158,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Toronto Dominion Bank bought a new position in Steel Dynamics during the second quarter worth about $107,000. Hefty Wealth Partners boosted its position in shares of Steel Dynamics by 76.1% in the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,477 shares during the period. Washington Trust Bank boosted its position in shares of Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after acquiring an additional 1,113 shares during the period. Advisory Services Network LLC boosted its position in shares of Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 101 shares during the period. Finally, Creative Planning boosted its position in shares of Steel Dynamics by 36.3% in the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 1,256 shares during the period. Institutional investors and hedge funds own 82.31% of the company’s stock.
A number of research firms have recently commented on STLD. Clarkson Capital restated a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. BidaskClub lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Finally, Citigroup Inc. dropped their target price on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $41.70.
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Steel Dynamics, Inc. (STLD) traded down $0.80 during trading hours on Wednesday, reaching $36.55. 2,477,000 shares of the company traded hands, compared to its average volume of 3,135,354. The company has a market capitalization of $8,850.15, a PE ratio of 14.70, a P/E/G ratio of 1.17 and a beta of 1.40. Steel Dynamics, Inc. has a twelve month low of $31.84 and a twelve month high of $40.17. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. analysts predict that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.
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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