Strategic Global Advisors adds Steel Dynamics (STLD) to its portfolio

Steel Dynamics (STLD) : Strategic Global Advisors added new position in Steel Dynamics during the most recent quarter end. The investment management firm now holds 31,619 shares of Steel Dynamics which is valued at $799,645 , the company said in a statement filed on Aug 11, 2016 with the SEC.Steel Dynamics makes up approximately 0.29% of Strategic Global Advisors’s portfolio.

Other Hedge Funds, Including , Van Hulzen Asset Management added STLD to its portfolio by purchasing 115,620 company shares during the most recent quarter which is valued at $2,924,030. Steel Dynamics makes up approx 1.61% of Van Hulzen Asset Management’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in STLD in the latest quarter, The investment management firm added 508,330 additional shares and now holds a total of 8,266,562 shares of Steel Dynamics which is valued at $209,061,353. Steel Dynamics makes up approx 0.03% of Blackrock Institutional Trust Company N.a.’s portfolio.Scout Investments boosted its stake in STLD in the latest quarter, The investment management firm added 28,082 additional shares and now holds a total of 682,971 shares of Steel Dynamics which is valued at $17,525,036. Steel Dynamics makes up approx 0.47% of Scout Investments’s portfolio.Clal Insurance Enterprises Holdings Ltd reduced its stake in STLD by selling 1,068,858 shares or 83.31% in the most recent quarter. The Hedge Fund company now holds 214,076 shares of STLD which is valued at $5,493,190. Steel Dynamics makes up approx 0.13% of Clal Insurance Enterprises Holdings Ltd’s portfolio.Regal Investment Advisors boosted its stake in STLD in the latest quarter, The investment management firm added 14 additional shares and now holds a total of 36,577 shares of Steel Dynamics which is valued at $966,730. Steel Dynamics makes up approx 0.26% of Regal Investment Advisors’s portfolio.

Steel Dynamics opened for trading at $25.32 and hit $25.88 on the upside on Tuesday, eventually ending the session at $25.31, with a gain of 1.04% or 0.26 points. The heightened volatility saw the trading volume jump to 21,92,759 shares. Company has a market cap of $6,170 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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