3g Capital Partners Lp buys $63,225,000 stake in Steel Dynamics (STLD)

Steel Dynamics (STLD) : 3g Capital Partners Lp scooped up 500,000 additional shares in Steel Dynamics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,500,000 shares of Steel Dynamics which is valued at $63,225,000.Steel Dynamics makes up approximately 5.04% of 3g Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. added STLD to its portfolio by purchasing 29,432 company shares during the most recent quarter which is valued at $744,335. Steel Dynamics makes up approx 0.88% of Qcm Cayman Ltd.’s portfolio. Counsel Portfolio Services added STLD to its portfolio by purchasing 51,928 company shares during the most recent quarter which is valued at $1,313,259. Steel Dynamics makes up approx 0.13% of Counsel Portfolio Services’s portfolio. Her Majesty The Queen In Right Of The Province Of Alberta… added STLD to its portfolio by purchasing 26,600 company shares during the most recent quarter which is valued at $707,028. Steel Dynamics makes up approx 0.01% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Quantitative Systematic Strategies boosted its stake in STLD in the latest quarter, The investment management firm added 14,425 additional shares and now holds a total of 32,559 shares of Steel Dynamics which is valued at $873,232. Steel Dynamics makes up approx 0.38% of Quantitative Systematic Strategies’s portfolio.

Steel Dynamics opened for trading at $24.71 and hit $24.8 on the upside on Thursday, eventually ending the session at $24.71, with a gain of 0.37% or 0.09 points. The heightened volatility saw the trading volume jump to 23,60,503 shares. Company has a market cap of $6,023 M.

On the company’s financial health, Steel Dynamics reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.56. The company had revenue of $2023.90 million for the quarter, compared to analysts expectations of $2044.13 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Steel Dynamics. Citigroup Initiated Steel Dynamics on Aug 22, 2016 to “Buy”, Price Target of the shares are set at $33.Steel Dynamics was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Aug 19, 2016. Steel Dynamics was Downgraded by BofA/Merrill to ” Neutral” on Jul 20, 2016.

Steel Dynamics Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations metals recycling and ferrous resources operations and steel fabrication operations. The Company offers hot roll cold roll galvanized galvanneal Galvalume Galfan and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products rounds angles flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment its products include an array of both ferrous and non-ferrous scrap processing scrap management transportation and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

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