Pyrrho Capital Management Lp adds Steel Dynamics (STLD) to its portfolio

Steel Dynamics (STLD) : Pyrrho Capital Management Lp added new position in Steel Dynamics during the most recent quarter end. The investment management firm now holds 100,500 shares of Steel Dynamics which is valued at $2.4 Million , the company said in a statement filed on May 13, 2016 with the SEC.Steel Dynamics makes up approximately 12.31% of Pyrrho Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Citadel Advisors reduced its stake in STLD by selling 2,727,878 shares or 77.61% in the most recent quarter. The Hedge Fund company now holds 786,791 shares of STLD which is valued at $18.9 Million. Steel Dynamics makes up approx 0.06% of Citadel Advisors’s portfolio. Cibc World Markets Corp added STLD to its portfolio by purchasing 550,000 company shares during the most recent quarter which is valued at $13.2 Million. Steel Dynamics makes up approx 0.44% of Cibc World Markets Corp’s portfolio. Archford Capital Strategies sold out all of its stake in STLD during the most recent quarter. The investment firm sold 27 shares of STLD which is valued $649.Numeric Investors boosted its stake in STLD in the latest quarter, The investment management firm added 251,149 additional shares and now holds a total of 573,122 shares of Steel Dynamics which is valued at $14.3 Million. Steel Dynamics makes up approx 0.15% of Numeric Investors’s portfolio.Dupont Capital Management Corp reduced its stake in STLD by selling 119,000 shares or 55.43% in the most recent quarter. The Hedge Fund company now holds 95,700 shares of STLD which is valued at $2.4 Million. Steel Dynamics makes up approx 0.05% of Dupont Capital Management Corp’s portfolio.

Steel Dynamics opened for trading at $24.25 and hit $24.76 on the upside on Wednesday, eventually ending the session at $24.6, with a gain of 1.57% or 0.38 points. The heightened volatility saw the trading volume jump to 32,20,355 shares. Company has a market cap of $5,992 M.

On the company’s financial health, Steel Dynamics reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.24. The company had revenue of $1741.30 million for the quarter, compared to analysts expectations of $1724.06 million. The company’s revenue was down -15.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Steel Dynamics. 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 .Company shares were Reiterated by Cowen on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 30 from a previous price target of $25 .Company shares were Reiterated by Credit Suisse on Mar 23, 2016 to “Outperform”, Firm has raised the Price Target to $ 27 from a previous price target of $25 .

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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