74,216 Shares in Steel Dynamics, Inc. $STLD Bought by PointState Capital LP

PointState Capital LP bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 74,216 shares of the basic materials company’s stock, valued at approximately $17,030,000. PointState Capital LP owned about 0.05% of Steel Dynamics at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Steel Dynamics during the 2nd quarter worth about $264,212,000. Odyssean LLC bought a new stake in Steel Dynamics during the 2nd quarter valued at approximately $309,000. Man Group plc grew its holdings in Steel Dynamics by 24.5% in the 2nd quarter. Man Group plc now owns 114,006 shares of the basic materials company’s stock valued at $26,160,000 after buying an additional 22,460 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Steel Dynamics in the 2nd quarter valued at approximately $8,004,000. Finally, Jones Financial Companies Lllp increased its position in Steel Dynamics by 28.8% in the 2nd quarter. Jones Financial Companies Lllp now owns 19,380 shares of the basic materials company’s stock worth $4,756,000 after buying an additional 4,329 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $235.90 on Thursday. Steel Dynamics, Inc. has a 1-year low of $126.88 and a 1-year high of $288.74. The firm has a market capitalization of $33.81 billion, a PE ratio of 21.39, a PEG ratio of 0.44 and a beta of 1.52. The business’s 50 day moving average is $242.65 and its 200-day moving average is $223.31. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the previous year, the business posted $2.01 earnings per share. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. Sell-side analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is currently 19.22%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group upped their price target on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Bank of America reduced their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, Barclays raised their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.27.

Insider Buying and Selling

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.