Prudential Financial Inc. raised its position in Steel Dynamics Inc. (NASDAQ:STLD) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,678,311 shares of the company’s stock after buying an additional 212,570 shares during the period. Prudential Financial Inc.’s holdings in Steel Dynamics were worth $91,921,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock valued at $118,000 after buying an additional 1,700 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock valued at $140,000 after buying an additional 3,299 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock valued at $143,000 after buying an additional 5,514 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock valued at $172,000 after buying an additional 6,385 shares during the period. Finally, North Point Portfolio Managers Corp OH purchased a new stake in shares of Steel Dynamics during the second quarter valued at about $203,000. Institutional investors own 80.33% of the company’s stock.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

Steel Dynamics Inc. (NASDAQ:STLD) opened at 35.48 on Tuesday. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 79.91 and a beta of 1.33. Steel Dynamics Inc. has a one year low of $15.32 and a one year high of $35.97. The stock’s 50 day moving average is $28.88 and its 200-day moving average is $26.16.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $865.67 million. Steel Dynamics had a net margin of 1.46% and a return on equity of 14.52%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts expect that Steel Dynamics Inc. will post $1.91 earnings per share for the current fiscal year.

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Several equities research analysts recently issued reports on the stock. Credit Suisse Group AG set a $33.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Saturday, October 8th. Zacks Investment Research cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Berenberg Bank reissued a “buy” rating and issued a $35.00 price target on shares of Steel Dynamics in a report on Tuesday, August 2nd. Cowen and Company set a $33.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Rosenblatt Securities cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $29.22.

In related news, Director Keith E. Busse sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $27.33, for a total transaction of $54,660.00. Following the sale, the director now owns 1,004,923 shares of the company’s stock, valued at approximately $27,464,545.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Steel Dynamics Company Profile

5 Day Chart for NASDAQ:STLD

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