Apella Capital LLC Buys New Stake in Steel Dynamics, Inc. $STLD

Apella Capital LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, HoldingsChannel reports. The fund bought 28,792 shares of the basic materials company’s stock, valued at approximately $5,183,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics during the fourth quarter worth $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics during the 4th quarter valued at $27,000. Sound Income Strategies LLC increased its stake in Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares during the period. DV Equities LLC purchased a new stake in Steel Dynamics during the 4th quarter worth $33,000. Finally, Torren Management LLC acquired a new position in Steel Dynamics in the 4th quarter worth $34,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 4.0%

Shares of Steel Dynamics stock opened at $251.00 on Friday. The business has a 50-day moving average price of $243.35 and a 200 day moving average price of $202.56. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The firm has a market cap of $36.32 billion, a P/E ratio of 26.84, a P/E/G ratio of 0.47 and a beta of 1.50. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last released 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 for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the business earned $1.44 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.91 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Buying and Selling

In other news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,125 shares of company stock valued at $5,438,226 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Citigroup boosted their price target on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Bank of America lowered their price objective on Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Finally, KeyCorp lifted their price objective on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $236.36.

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.