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

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board increased its position in Steel Dynamics by 17.3% during the third quarter. Public Sector Pension Investment Board now owns 11,643 shares of the basic materials company’s stock worth $1,623,000 after acquiring an additional 1,714 shares during the period. Savvy Advisors Inc. lifted its position in Steel Dynamics by 13.0% during the third quarter. Savvy Advisors Inc. now owns 5,454 shares of the basic materials company’s stock worth $760,000 after purchasing an additional 629 shares during the period. Caprock Group LLC bought a new position in Steel Dynamics in the 3rd quarter valued at about $712,000. ING Groep NV acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at approximately $500,000. Finally, Applied Finance Capital Management LLC lifted its holdings in shares of Steel Dynamics by 1,774.0% during the 3rd quarter. Applied Finance Capital Management LLC now owns 71,793 shares of the basic materials company’s stock worth $10,010,000 after acquiring an additional 67,962 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 3.9%

Shares of STLD stock opened at $191.68 on Friday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The stock’s fifty day simple moving average is $178.05 and its 200 day simple moving average is $155.23. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $27.99 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.52 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.36 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

STLD has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Jefferies Financial Group lifted their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. KeyCorp reissued an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Finally, Wells Fargo & Company lifted their target price on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.