Stevens Capital Management LP Grows Stock Holdings in Steel Dynamics, Inc. $STLD

Stevens Capital Management LP increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 111.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,375 shares of the basic materials company’s stock after buying an additional 2,829 shares during the period. Stevens Capital Management LP’s holdings in Steel Dynamics were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Cary Street Partners Investment Advisory LLC raised its position in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Steel Dynamics during the 2nd quarter valued at about $30,000. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics during the 1st quarter valued at about $32,000. WPG Advisers LLC bought a new stake in Steel Dynamics during the 1st quarter valued at about $32,000. Finally, Rosenberg Matthew Hamilton raised its holdings in Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 3.3%

Shares of Steel Dynamics stock opened at $158.16 on Friday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $164.73. The company’s fifty day simple moving average is $147.87 and its 200-day simple moving average is $136.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The stock has a market capitalization of $23.10 billion, a PE ratio of 20.95, a P/E/G ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.Steel Dynamics’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STLD. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Wednesday. Citigroup lifted their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research note on Tuesday, November 4th. The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Finally, KeyCorp raised their target price on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.44.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.