Metis Global Partners LLC Acquires 4,322 Shares of Steel Dynamics, Inc. $STLD

Metis Global Partners LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 28.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,530 shares of the basic materials company’s stock after purchasing an additional 4,322 shares during the quarter. Metis Global Partners LLC’s holdings in Steel Dynamics were worth $2,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Steel Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after buying an additional 230,582 shares in the last quarter. Norges Bank acquired a new stake in shares of Steel Dynamics in the second quarter valued at about $339,769,000. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 12.1% in the third quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after acquiring an additional 252,108 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 15.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after acquiring an additional 260,104 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after purchasing an additional 5,317 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on STLD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Wednesday, January 7th. Jefferies Financial Group upped their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $182.00.

Steel Dynamics Trading Down 3.9%

STLD stock opened at $191.68 on Friday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $208.47. The stock has a market cap of $27.99 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. The company has a fifty day moving average price of $178.05 and a two-hundred day moving average price of $155.23. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.