US Bancorp DE raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,463 shares of the basic materials company’s stock after buying an additional 2,737 shares during the quarter. US Bancorp DE’s holdings in Steel Dynamics were worth $2,349,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Steel Dynamics during the second quarter valued at about $107,000. Cerebellum GP LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at about $132,000. Steward Partners Investment Advisory LLC purchased a new stake in Steel Dynamics during the third quarter valued at about $112,000. National Pension Service purchased a new stake in Steel Dynamics during the fourth quarter valued at about $150,000. Finally, Cubist Systematic Strategies LLC lifted its stake in Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares in the last quarter. 83.47% of the stock is owned by institutional investors.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Friday, October 20th. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note 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 research note on Monday, January 8th. Finally, Cowen set a $60.00 target price on Steel Dynamics and gave the company a “buy” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $46.64.
Steel Dynamics, Inc. (NASDAQ STLD) opened at $47.14 on Friday. The firm has a market capitalization of $10,920.00, a PE ratio of 13.99, a PEG ratio of 0.97 and a beta of 1.34. Steel Dynamics, Inc. has a twelve month low of $32.15 and a twelve month high of $48.28. The company has a quick ratio of 2.29, a current ratio of 4.04 and a debt-to-equity ratio of 0.74.
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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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