Steel Dynamics, Inc. (STLD) Shares Bought by Nationwide Fund Advisors

Nationwide Fund Advisors raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 737,322 shares of the basic materials company’s stock after acquiring an additional 107,330 shares during the quarter. Nationwide Fund Advisors owned approximately 0.31% of Steel Dynamics worth $26,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in STLD. BlackRock Inc. grew its position in Steel Dynamics by 11,858.1% in the 1st quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after acquiring an additional 19,923,788 shares during the last quarter. Steadfast Capital Management LP bought a new position in shares of Steel Dynamics during the 1st quarter worth $81,408,000. Boston Partners grew its position in shares of Steel Dynamics by 11.9% during the 2nd quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock worth $586,703,000 after buying an additional 1,742,242 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Steel Dynamics by 73.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,440,881 shares of the basic materials company’s stock worth $84,845,000 after buying an additional 1,037,471 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Steel Dynamics by 21.7% during the 2nd quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock worth $146,088,000 after buying an additional 727,722 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on STLD shares. Bank of America Corporation increased their price target on Steel Dynamics from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Cowen and Company reissued a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Morgan Stanley reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and set a $45.00 price target on shares of Steel Dynamics in a research report on Monday, June 26th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.68.

In other news, Director Keith E. Busse sold 4,965 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at 33.34 on Friday. The stock has a market capitalization of $8.00 billion, a PE ratio of 15.31 and a beta of 1.26. Steel Dynamics, Inc. has a 1-year low of $23.34 and a 1-year high of $40.17. The firm has a 50-day moving average price of $34.61 and a 200-day moving average price of $34.97.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Steel Dynamics, Inc. will post $2.79 earnings per share for the current 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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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