Frontier Capital Management Co. LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,033 shares of the basic materials company’s stock after selling 5,146 shares during the period. Frontier Capital Management Co. LLC owned 0.09% of Steel Dynamics worth $9,404,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of STLD. Toronto Dominion Bank acquired a new stake in shares of Steel Dynamics during the 2nd quarter valued at $107,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at $112,000. Hefty Wealth Partners boosted its holdings in shares of Steel Dynamics by 76.1% during the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 1,589 shares in the last quarter. Finally, National Pension Service acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at $150,000. Hedge funds and other institutional investors own 83.47% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ STLD) traded up $1.93 during midday trading on Wednesday, hitting $46.79. The stock had a trading volume of 2,773,292 shares, compared to its average volume of 2,514,960. Steel Dynamics, Inc. has a 12-month low of $32.15 and a 12-month high of $48.28. The stock has a market cap of $10,596.49, a P/E ratio of 13.88, a PEG ratio of 0.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29.
Several research analysts have commented on the company. Credit Suisse Group lifted their target price on Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 23rd. Jefferies Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Wednesday, January 24th. Cowen reissued an “outperform” rating and issued a $60.00 price objective (up from $53.00) on shares of Steel Dynamics in a research note on Wednesday, January 24th. Finally, BMO Capital Markets boosted their price objective on Steel Dynamics to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $46.64.
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About Steel Dynamics
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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