Public Employees Retirement Association of Colorado reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 47,879 shares of the basic materials company’s stock after selling 123 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Steel Dynamics were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Trust N.A. increased its position in Steel Dynamics by 27.4% in the first quarter. Raymond James Trust N.A. now owns 14,050 shares of the basic materials company’s stock valued at $488,000 after buying an additional 3,019 shares during the period. Capstone Asset Management Co. increased its position in Steel Dynamics by 3.1% in the first quarter. Capstone Asset Management Co. now owns 20,443 shares of the basic materials company’s stock valued at $711,000 after buying an additional 620 shares during the period. Cornerstone Financial Partners LLC bought a new position in Steel Dynamics during the first quarter valued at approximately $2,258,000. Americafirst Capital Management LLC bought a new position in Steel Dynamics during the first quarter valued at approximately $337,000. Finally, Louisiana State Employees Retirement System increased its position in Steel Dynamics by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 61,200 shares of the basic materials company’s stock valued at $2,127,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 84.05% of the company’s stock.

Steel Dynamics, Inc. (NASDAQ STLD) opened at 34.54 on Friday. The company has a market cap of $8.29 billion, a PE ratio of 15.87 and a beta of 1.23. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17. The firm’s 50-day moving average is $35.88 and its 200-day moving average is $35.22.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the 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 for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post $2.83 EPS for the current year.

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STLD has been the topic of several research analyst reports. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, April 21st. Macquarie raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $38.00 to $44.00 in a report on Monday, April 24th. Cowen and Company boosted their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. BMO Capital Markets reissued a “buy” rating and issued a $48.00 target price on shares of Steel Dynamics in a report on Monday, April 24th. Finally, Barclays PLC reissued a “buy” rating and issued a $43.00 target price on shares of Steel Dynamics in a report on Friday, May 5th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $39.79.

In other news, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the transaction, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

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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