ClariVest Asset Management LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 56.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 394,547 shares of the basic materials company’s stock after selling 518,830 shares during the quarter. ClariVest Asset Management LLC’s holdings in Steel Dynamics were worth $11,852,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its holdings in Steel Dynamics by 36.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after buying an additional 300 shares during the period. First Mercantile Trust Co. boosted its holdings in Steel Dynamics by 45.2% in the 4th quarter. First Mercantile Trust Co. now owns 2,570 shares of the basic materials company’s stock worth $77,000 after buying an additional 800 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $134,000. Gideon Capital Advisors Inc. bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $203,000. Finally, Brookstone Capital Management bought a new position in shares of Steel Dynamics during the 3rd quarter valued at about $214,000. 84.14% of the stock is owned by institutional investors.
STLD has been the subject of several research reports. Credit Suisse Group reissued a “neutral” rating on shares of Steel Dynamics in a report on Monday, October 15th. Zacks Investment Research downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Monday, October 15th. ValuEngine downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Citigroup dropped their price objective on shares of Steel Dynamics from $56.00 to $47.00 and set a “buy” rating for the company in a report on Friday, October 19th. Finally, BMO Capital Markets dropped their price objective on shares of Steel Dynamics from $60.00 to $53.00 and set a “buy” rating for the company in a report on Friday, October 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.18.
STLD opened at $36.20 on Tuesday. Steel Dynamics, Inc. has a 52 week low of $28.91 and a 52 week high of $52.10. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 6.59, a P/E/G ratio of 0.71 and a beta of 1.40. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.93 billion. Steel Dynamics had a return on equity of 35.44% and a net margin of 10.65%. The firm’s revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 4.19 EPS for the current fiscal year.
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. 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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