LSV Asset Management trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,900 shares of the basic materials company’s stock after selling 18,600 shares during the quarter. LSV Asset Management owned approximately 0.09% of Steel Dynamics worth $9,096,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in STLD. State Street Corp raised its holdings in shares of Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after purchasing an additional 1,346,487 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $36,928,000. Boston Partners raised its holdings in shares of Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock valued at $585,208,000 after purchasing an additional 593,498 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in shares of Steel Dynamics by 129.6% in the 3rd quarter. Korea Investment CORP now owns 681,300 shares of the basic materials company’s stock valued at $23,484,000 after purchasing an additional 384,600 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ STLD) opened at $43.57 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29. The company has a market cap of $10,510.00, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.92 and a beta of 1.34. Steel Dynamics, Inc. has a 52-week low of $32.15 and a 52-week high of $48.28.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a report on Friday, October 20th. BidaskClub upgraded shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Bank of America set a $51.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Cowen set a $60.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Steel Dynamics currently has a consensus rating of “Buy” and a consensus price target of $46.64.
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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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