ETRADE Capital Management LLC lifted its position in Steel Dynamics (NASDAQ:STLD) by 71.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,074 shares of the basic materials company’s stock after buying an additional 6,273 shares during the quarter. ETRADE Capital Management LLC’s holdings in Steel Dynamics were worth $667,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in shares of Steel Dynamics in the first quarter worth about $3,991,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Steel Dynamics by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 884,445 shares of the basic materials company’s stock worth $39,111,000 after buying an additional 38,516 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Steel Dynamics by 3.6% in the first quarter. Eaton Vance Management now owns 315,451 shares of the basic materials company’s stock worth $13,949,000 after buying an additional 10,829 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in Steel Dynamics in the first quarter valued at approximately $239,000. Finally, Castleview Partners LLC purchased a new stake in Steel Dynamics in the first quarter valued at approximately $514,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ STLD opened at $50.86 on Friday. Steel Dynamics has a one year low of $32.20 and a one year high of $52.10. The company has a current ratio of 4.24, a quick ratio of 2.38 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.31.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, April 18th. The basic materials company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. Steel Dynamics had a net margin of 8.59% and a return on equity of 21.60%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. sell-side analysts predict that Steel Dynamics will post 4.55 EPS for the current fiscal year.
A number of brokerages recently weighed in on STLD. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 9th. ValuEngine raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Citigroup raised their target price on shares of Steel Dynamics from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research downgraded shares of Steel Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $50.50.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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