Crossmark Global Holdings Inc. lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the first quarter, HoldingsChannel reports. The firm owned 22,573 shares of the basic materials company’s stock after selling 370 shares during the period. Crossmark Global Holdings Inc.’s holdings in Steel Dynamics were worth $796,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Steel Dynamics by 3.4% during the fourth quarter. BlackRock Inc. now owns 23,894,257 shares of the basic materials company’s stock worth $717,782,000 after buying an additional 777,025 shares during the last quarter. Vanguard Group Inc increased its holdings in Steel Dynamics by 4.3% during the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after buying an additional 882,061 shares during the last quarter. Norges Bank acquired a new position in Steel Dynamics during the fourth quarter worth $146,724,000. Dimensional Fund Advisors LP increased its holdings in Steel Dynamics by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock worth $134,353,000 after buying an additional 309,961 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Steel Dynamics by 2,996.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock worth $135,000 after buying an additional 3,930,619 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on STLD. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. ValuEngine downgraded shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. Macquarie set a $36.00 target price on shares of Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, Goldman Sachs Group set a $44.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $47.64.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. Steel Dynamics had a net margin of 10.26% and a return on equity of 33.56%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the company earned $0.96 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Steel Dynamics, Inc. will post 3.79 earnings per share for the current fiscal year.
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Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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