Clal Insurance Enterprises Holdings Ltd Lowers stake in Steel Dynamics (STLD)

Steel Dynamics (STLD) : Clal Insurance Enterprises Holdings Ltd reduced its stake in Steel Dynamics by 83.31% during the most recent quarter end. The investment management company now holds a total of 214,076 shares of Steel Dynamics which is valued at $5,493,190 after selling 1,068,858 shares in Steel Dynamics , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Steel Dynamics makes up approximately 0.13% of Clal Insurance Enterprises Holdings Ltd’s portfolio.

Other Hedge Funds, Including , William Blair Investment Management boosted its stake in STLD in the latest quarter, The investment management firm added 5,823 additional shares and now holds a total of 28,612 shares of Steel Dynamics which is valued at $734,184.Fuller Thaler Asset Management boosted its stake in STLD in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 4,800 shares of Steel Dynamics which is valued at $126,864.Calvert Investment Management boosted its stake in STLD in the latest quarter, The investment management firm added 11,201 additional shares and now holds a total of 35,022 shares of Steel Dynamics which is valued at $925,631. Steel Dynamics makes up approx 0.05% of Calvert Investment Management’s portfolio.Quantitative Investment Management reduced its stake in STLD by selling 15,200 shares or 9.4% in the most recent quarter. The Hedge Fund company now holds 146,500 shares of STLD which is valued at $3,893,970. Steel Dynamics makes up approx 0.18% of Quantitative Investment Management’s portfolio.Retirement Systems Of Alabama boosted its stake in STLD in the latest quarter, The investment management firm added 616 additional shares and now holds a total of 1,076,238 shares of Steel Dynamics which is valued at $28,778,604. Steel Dynamics makes up approx 0.16% of Retirement Systems Of Alabama’s portfolio.

Steel Dynamics opened for trading at $25.55 and hit $26.11 on the upside on Monday, eventually ending the session at $25.89, with a gain of 2.37% or 0.6 points. The heightened volatility saw the trading volume jump to 23,37,973 shares. Company has a market cap of $6,311 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. Steel Dynamics was Downgraded by BofA/Merrill to ” Neutral” on Jul 20, 2016. Company shares were Reiterated by Cowen on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $30 .

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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