Following the completion of the sale, the director now owns 5,042,939 shares of the company's stock, valued at $179,730,345.96. Gemmer Asset Management Limited Liability Company has invested 0.01% in Steel Dynamics, Inc. Norges Bank purchased a new position in Steel Dynamics during the fourth quarter worth about $213,607,000. Noting its average daily volume at 3.54 million shares each day over the month, this signifies a pretty significant change over the norm. Raymond James Trust N.A. boosted its stake in Steel Dynamics by 27.4% in the first quarter.
The Company has 242.38 million shares outstanding and 231.99 million shares were floated in market.
The number of shares now held by investors is 242.38 Million.
"The company believes that current and anticipated macroeconomic and market conditions are in place to benefit the domestic steel industry in the coming year", said Millett. They now have a Dollars 33 price target on the stock. The company has a market capitalization of $7.98 billion, a P/E ratio of 21.10 and a beta of 1.35.
The stock's price switched up -5.32% 20-Days Simple Moving Average, dropped -6.95% from 50-Days Simple Moving Average and rose 6.69% from 200 Days Simple Moving Average. Steel Dynamics Inc. had 39 analyst reports since July 22, 2015 according to SRatingsIntel. The company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. In the profitability analysis, the company has gross profit margin of 17.20% while net profit margin was 4.90%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.88 billion. They expect $0.62 earnings per share, up 138.46% or $0.36 from last year's $0.26 per share. In contrast to the year ago quarter EPS was at 0.46.
As the earnings date approaches, we can see that insider ownership is now 4.10% shares, and institutional ownership is at 89.30% for Steel Dynamics, Inc.
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The company also recently announced a quarterly dividend, which was paid on Monday, April 10th. Overweight rating was issued by 1 and Underweight rating was suggested by 0 Investors should trade with caution and watch out for further signals.
Since November 1, 2016, it had 0 buys, and 2 selling transactions for $5.05 million activity. Cibc Asset Inc holds 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) earned "Buy" rating by Nomura on Wednesday, March 9. If a company has a PEG Ratio above one, it may represent that the company is overvalued. Quantbot Technologies Limited Partnership has invested 0.37% of its portfolio in Steel Dynamics, Inc. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of USA and global copyright & trademark law.
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Several other research analysts have also recently issued reports on STLD. TheStreet upgraded the stock to "Hold" rating in Tuesday, September 1 report.
Steel Dynamics, Inc. had its " rating reiterated by analysts at JP Morgan. Macquarie restated a "neutral" rating on shares of Steel Dynamics in a research report on Monday, March 20th. Finally, Barclays PLC set a $40.00 target price on Steel Dynamics and gave the company a "buy" rating in a report on Sunday, January 29th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company's average steel product price raised more than consumed raw material scrap costs, resulting in steel metal spread expansion. 140,295 shares were sold by TEETS RICHARD P JR, worth $5.00M. If the average volume is low then the liquidity is low which means it is hard to buy or sell the stock as there are fewer buyers or sellers of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.
"Operating income from our metals recycling platform more than doubled in the first quarter 2017, as domestic steel mill utilization increased, strengthening both ferrous scrap shipments and metal spread", continued Millett. It is positive, as 28 investors sold STLD shares while 162 reduced holdings.