Alambic Investment Management L.P. lowered its stake in Steel Dynamics (NASDAQ:STLD) by 7.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,684 shares of the basic materials company’s stock after selling 7,740 shares during the period. Steel Dynamics accounts for about 0.6% of Alambic Investment Management L.P.’s holdings, making the stock its 27th largest holding. Alambic Investment Management L.P.’s holdings in Steel Dynamics were worth $4,408,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. National Pension Service purchased a new stake in Steel Dynamics during the 4th quarter valued at $150,000. Creative Planning purchased a new stake in Steel Dynamics during the 4th quarter valued at $294,000. Schwab Charles Investment Management Inc. boosted its stake in Steel Dynamics by 3.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 845,929 shares of the basic materials company’s stock valued at $36,485,000 after purchasing an additional 31,415 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $1,276,000. Finally, Oakbrook Investments LLC boosted its stake in Steel Dynamics by 10.4% during the 4th quarter. Oakbrook Investments LLC now owns 15,460 shares of the basic materials company’s stock valued at $667,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 85.26% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research downgraded Steel Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 8th. Citigroup increased their target price on Steel Dynamics from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. ValuEngine upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Finally, Credit Suisse Group increased their target price on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of “Buy” and an average target price of $50.50.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.05. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. Steel Dynamics had a return on equity of 21.60% and a net margin of 8.59%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. equities research analysts expect that Steel Dynamics will post 4.55 earnings per share for the current fiscal year.
About Steel Dynamics
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.
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