J. Safra Sarasin Holding AG Grows Position in Steel Dynamics, Inc. $STLD

J. Safra Sarasin Holding AG boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,015.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,763 shares of the basic materials company’s stock after purchasing an additional 12,529 shares during the period. J. Safra Sarasin Holding AG’s holdings in Steel Dynamics were worth $2,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC grew its stake in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares during the period. Acadian Asset Management LLC lifted its holdings in Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 1,578 shares in the last quarter. Jump Financial LLC purchased a new position in Steel Dynamics during the second quarter valued at approximately $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics in the second quarter worth approximately $48,746,000. Finally, Sei Investments Co. boosted its position in shares of Steel Dynamics by 7.9% in the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after purchasing an additional 7,712 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the transaction, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,125 shares of company stock valued at $5,438,226 over the last 90 days. Insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Up 2.5%

Shares of Steel Dynamics stock opened at $234.14 on Tuesday. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $246.11 and a 200-day moving average price of $207.36. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 0.44 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Steel Dynamics’s quarterly revenue was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 16.73 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on STLD shares. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley boosted their price objective on Steel Dynamics from $227.00 to $270.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Wells Fargo & Company dropped their price objective on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.55.

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.