Steel Dynamics (STLD) Position Trimmed by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in Steel Dynamics (NASDAQ:STLD) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,046 shares of the basic materials company’s stock after selling 4,139 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Steel Dynamics were worth $1,992,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STLD. Cubist Systematic Strategies LLC raised its position in Steel Dynamics by 80.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares during the period. National Pension Service purchased a new stake in Steel Dynamics in the 4th quarter worth about $150,000. Creative Planning purchased a new stake in Steel Dynamics in the 4th quarter worth about $294,000. Schwab Charles Investment Management Inc. raised its position in Steel Dynamics by 3.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 845,929 shares of the basic materials company’s stock worth $36,485,000 after purchasing an additional 31,415 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Steel Dynamics in the 4th quarter worth about $1,276,000. 85.26% of the stock is currently owned by institutional investors.

NASDAQ STLD opened at $48.23 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.38 and a current ratio of 4.24. Steel Dynamics has a 52-week low of $32.20 and a 52-week high of $50.70. The company has a market cap of $11.38 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.05. Steel Dynamics had a net margin of 8.59% and a return on equity of 21.60%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the firm earned $0.83 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. equities analysts predict that Steel Dynamics will post 4.55 earnings per share for the current year.

STLD has been the topic of a number of research reports. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 14th. Cowen reaffirmed an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Steel Dynamics in a research report on Wednesday, January 24th. Goldman Sachs initiated coverage on shares of Steel Dynamics in a research report on Tuesday, March 20th. They set a “buy” rating and a $59.00 target price on the stock. Credit Suisse Group raised their target price on shares of Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, UBS initiated coverage on shares of Steel Dynamics in a research report on Tuesday, April 17th. They set a “neutral” rating and a $47.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.00.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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

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