Steel Dynamics, Inc. (STLD) Holdings Cut by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 297,524 shares of the basic materials company’s stock after selling 24,833 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.12% of Steel Dynamics worth $10,256,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank purchased a new position in Steel Dynamics during the second quarter worth approximately $107,000. Hefty Wealth Partners boosted its position in Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares in the last quarter. Washington Trust Bank boosted its position in Steel Dynamics by 48.8% during the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 1,113 shares in the last quarter. Advisory Services Network LLC boosted its position in Steel Dynamics by 2.3% during the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 101 shares in the last quarter. Finally, Creative Planning boosted its position in Steel Dynamics by 36.3% during the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 1,256 shares in the last quarter. Institutional investors own 82.31% of the company’s stock.
A number of equities analysts have issued reports on STLD shares. Bank of America Corporation reiterated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Cowen and Company reiterated a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and set a $43.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Macquarie started coverage on Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price target on the stock. Finally, Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $41.70.
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Steel Dynamics, Inc. (NASDAQ STLD) traded down $0.80 during trading hours on Wednesday, hitting $36.55. The company had a trading volume of 2,477,000 shares, compared to its average volume of 3,135,354. Steel Dynamics, Inc. has a 12-month low of $31.84 and a 12-month high of $40.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. The firm has a market capitalization of $8,850.15, a PE ratio of 14.70, a PEG ratio of 1.17 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. sell-side analysts forecast that Steel Dynamics, Inc. will post 2.67 EPS 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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