Van Hulzen Asset Management adds Steel Dynamics (STLD) to its portfolio

Steel Dynamics (STLD) : Van Hulzen Asset Management added new position in Steel Dynamics during the most recent quarter end. The investment management firm now holds 115,620 shares of Steel Dynamics which is valued at $2,924,030 , the company said in a statement filed on Aug 11, 2016 with the SEC.Steel Dynamics makes up approximately 1.61% of Van Hulzen Asset Management’s portfolio.

Other Hedge Funds, Including , Pacad Investment Ltd. boosted its stake in STLD in the latest quarter, The investment management firm added 103,592 additional shares and now holds a total of 126,000 shares of Steel Dynamics which is valued at $3,186,540. Steel Dynamics makes up approx 0.42% of Pacad Investment Ltd.’s portfolio.Meeder Asset Management Inc boosted its stake in STLD in the latest quarter, The investment management firm added 33,859 additional shares and now holds a total of 62,286 shares of Steel Dynamics which is valued at $1,642,482. Steel Dynamics makes up approx 0.15% of Meeder Asset Management Inc’s portfolio.Nisa Investment Advisors reduced its stake in STLD by selling 9,500 shares or 24.47% in the most recent quarter. The Hedge Fund company now holds 29,320 shares of STLD which is valued at $820,374. Steel Dynamics makes up approx 0.01% of Nisa Investment Advisors’s portfolio.Capstone Asset Management Co boosted its stake in STLD in the latest quarter, The investment management firm added 71 additional shares and now holds a total of 27,074 shares of Steel Dynamics which is valued at $743,452. Steel Dynamics makes up approx 0.02% of Capstone Asset Management Co’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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