Machina Capital S.A.S. Takes Position in Steel Dynamics, Inc. $STLD

Machina Capital S.A.S. purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,741 shares of the basic materials company’s stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. State Street Corp lifted its holdings in shares of 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 acquiring an additional 230,582 shares during the period. Norges Bank bought a new stake in Steel Dynamics during the second quarter worth $339,769,000. Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after purchasing an additional 252,108 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 15.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock valued at $269,947,000 after purchasing an additional 260,104 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Steel Dynamics by 0.4% in the 2nd 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. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 2.9%

NASDAQ:STLD opened at $193.02 on Friday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $199.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market cap of $28.19 billion, a PE ratio of 24.10, a P/E/G ratio of 0.54 and a beta of 1.46. The firm’s 50 day simple moving average is $174.14 and its 200 day simple moving average is $152.14.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STLD has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 31st. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. KeyCorp reissued an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $182.00.

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.