Qcm Cayman Ltd. adds Steel Dynamics (STLD) to its portfolio

Steel Dynamics (STLD) : Qcm Cayman Ltd. added new position in Steel Dynamics during the most recent quarter end. The investment management firm now holds 29,432 shares of Steel Dynamics which is valued at $744,335 , the company said in a statement filed on Aug 15, 2016 with the SEC.Steel Dynamics makes up approximately 0.88% of Qcm Cayman Ltd.’s portfolio.

Other Hedge Funds, Including , Walleye Trading added STLD to its portfolio by purchasing 38,072 company shares during the most recent quarter which is valued at $962,841. Steel Dynamics makes up approx 0.07% of Walleye Trading’s portfolio.Stevens Capital Management Lp boosted its stake in STLD in the latest quarter, The investment management firm added 115,196 additional shares and now holds a total of 243,666 shares of Steel Dynamics which is valued at $6,162,313. Steel Dynamics makes up approx 0.24% of Stevens Capital Management Lp’s portfolio.Royce Associates Lp reduced its stake in STLD by selling 2,800 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 269,621 shares of STLD which is valued at $6,918,475. Steel Dynamics makes up approx 0.04% of Royce Associates Lp’s portfolio.Janney Montgomery Scott boosted its stake in STLD in the latest quarter, The investment management firm added 42,429 additional shares and now holds a total of 51,937 shares of Steel Dynamics which is valued at $1,372,695. Steel Dynamics makes up approx 0.02% of Janney Montgomery Scott’s portfolio.Pyrrho Capital Management Lp reduced its stake in STLD by selling 47,500 shares or 47.26% in the most recent quarter. The Hedge Fund company now holds 53,000 shares of STLD which is valued at $1,417,220. Steel Dynamics makes up approx 6.34% of Pyrrho Capital Management Lp’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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