Global X Management Co. LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 68.2% during the second quarter, Holdings Channel reports. The fund owned 12,970 shares of the basic materials company’s stock after buying an additional 5,258 shares during the period. Global X Management Co. LLC’s holdings in Steel Dynamics were worth $464,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of STLD. Mesirow Financial Investment Management Equity Management boosted its position in Steel Dynamics by 41.8% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 43,725 shares of the basic materials company’s stock valued at $1,565,000 after buying an additional 12,900 shares during the last quarter. British Airways Pensions Investment Management Ltd boosted its position in Steel Dynamics by 48.3% in the second quarter. British Airways Pensions Investment Management Ltd now owns 648,631 shares of the basic materials company’s stock valued at $23,214,000 after buying an additional 211,144 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in Steel Dynamics during the second quarter valued at approximately $2,733,000. ARP Americas LLC boosted its position in Steel Dynamics by 2.6% in the second quarter. ARP Americas LLC now owns 7,783 shares of the basic materials company’s stock valued at $279,000 after buying an additional 200 shares during the last quarter. Finally, Korea Investment CORP acquired a new position in Steel Dynamics during the second quarter valued at approximately $10,625,000. Institutional investors and hedge funds own 85.59% of the company’s stock.

Shares of Steel Dynamics, Inc. (STLD) opened at 34.55 on Friday. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 15.87 and a beta of 1.23. The firm’s 50-day moving average price is $36.06 and its 200 day moving average price is $35.22. Steel Dynamics, Inc. has a 52 week low of $22.79 and a 52 week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post $2.82 EPS for the current year.

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Several equities analysts recently commented on the company. BidaskClub cut Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Longbow Research restated a “buy” rating and set a $40.00 target price on shares of Steel Dynamics in a research report on Thursday, July 27th. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Clarkson Capital restated a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Finally, Jefferies Group LLC restated a “buy” rating and set a $43.00 target price (up from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $40.59.

In related news, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the transaction, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics 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 transaction, the director now owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

About Steel Dynamics

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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