Steel Dynamics, Inc. (STLD) Shares Bought by Mesirow Financial Investment Management Equity Management

Mesirow Financial Investment Management Equity Management raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 41.8% during the second quarter, Holdings Channel reports. The fund owned 43,725 shares of the basic materials company’s stock after buying an additional 12,900 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Steel Dynamics were worth $1,565,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $1,546,000. Hennessy Advisors Inc. purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $3,639,000. Airain ltd boosted its stake in shares of Steel Dynamics by 855.0% in the first quarter. Airain ltd now owns 245,479 shares of the basic materials company’s stock worth $8,533,000 after buying an additional 219,774 shares during the period. Affinity Wealth Management purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $265,000. Finally, KBC Group NV purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $790,000. Institutional investors and hedge funds own 84.05% of the company’s stock.

Steel Dynamics, Inc. (NASDAQ:STLD) opened at 35.51 on Thursday. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17. The firm has a 50-day moving average price of $35.78 and a 200 day moving average price of $35.22. The stock has a market cap of $8.57 billion, a PE ratio of 16.31 and a beta of 1.23.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts forecast that Steel Dynamics, Inc. will post $2.83 earnings per share for the current fiscal year.

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STLD has been the subject of a number of research reports. Macquarie raised Steel Dynamics from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $38.00 to $44.00 in a research note on Monday, April 24th. Barclays PLC reissued a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a research note on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a research note on Monday, June 26th. Berenberg Bank reissued a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research note on Monday, June 19th. Finally, Morgan Stanley reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, July 18th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.79.

In related news, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the transaction, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now directly owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.

About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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

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