Tradelink Capital adds Steel Dynamics (STLD) to its portfolio

Steel Dynamics (STLD) : Tradelink Capital added new position in Steel Dynamics during the most recent quarter end. The investment management firm now holds 8,375 shares of Steel Dynamics which is valued at $222,608 , the company said in a statement filed on Aug 1, 2016 with the SEC.Steel Dynamics makes up approximately 1.03% of Tradelink Capital’s portfolio.

Other Hedge Funds, Including , Ngam Advisors added STLD to its portfolio by purchasing 11,365 company shares during the most recent quarter which is valued at $302,082. Redwood Investments added STLD to its portfolio by purchasing 764,851 company shares during the most recent quarter which is valued at $20,452,116. Steel Dynamics makes up approx 1.80% of Redwood Investments’s portfolio.Capital Fund Management S.a. boosted its stake in STLD in the latest quarter, The investment management firm added 630,742 additional shares and now holds a total of 1,010,740 shares of Steel Dynamics which is valued at $27,027,188. Steel Dynamics makes up approx 0.46% of Capital Fund Management S.a.’s portfolio.Louisiana State Employees Retirement System reduced its stake in STLD by selling 2,700 shares or 4.0% in the most recent quarter. The Hedge Fund company now holds 64,800 shares of STLD which is valued at $1,732,752. Steel Dynamics makes up approx 0.09% of Louisiana State Employees Retirement System’s portfolio.Catawba Capital Management Va boosted its stake in STLD in the latest quarter, The investment management firm added 1,740 additional shares and now holds a total of 18,708 shares of Steel Dynamics which is valued at $495,014. Steel Dynamics makes up approx 0.12% of Catawba Capital Management Va’s portfolio.

Steel Dynamics closed down -0.42 points or -1.58% at $26.16 with 18,66,604 shares getting traded on Thursday. Post opening the session at $26.44, the shares hit an intraday low of $25.98 and an intraday high of $26.52 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 .Company shares were Reiterated by Rosenblatt on May 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $21 .

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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