Steel Dynamics, Inc. $STLD Stake Boosted by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,156 shares of the basic materials company’s stock after acquiring an additional 4,117 shares during the quarter. Steel Dynamics accounts for approximately 1.9% of Alpine Woods Capital Investors LLC’s investment portfolio, making the stock its 10th largest holding. Alpine Woods Capital Investors LLC’s holdings in Steel Dynamics were worth $7,948,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Prosperity Bancshares Inc bought a new position in Steel Dynamics during the 4th quarter worth about $25,000. MV Capital Management Inc. bought a new stake in shares of Steel Dynamics in the 4th quarter valued at about $27,000. Sound Income Strategies LLC lifted its position in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $33,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 0.5%

Shares of Steel Dynamics stock opened at $251.26 on Friday. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $36.01 billion, a P/E ratio of 22.78, a PEG ratio of 0.48 and a beta of 1.53. The firm’s 50 day moving average price is $248.64 and its 200-day moving average price is $214.00. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74.

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

Steel Dynamics Announces Dividend

The firm 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 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 19.22%.

Analyst Ratings Changes

Several brokerages recently issued reports on STLD. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. BMO Capital Markets increased their target price on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, Morgan Stanley reduced their price target on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

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.