AlphaQuest LLC Buys 9,787 Shares of Steel Dynamics, Inc. $STLD

AlphaQuest LLC boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 197.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,732 shares of the basic materials company’s stock after purchasing an additional 9,787 shares during the quarter. AlphaQuest LLC’s holdings in Steel Dynamics were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after buying an additional 618 shares during the last quarter. Acadian Asset Management LLC raised its stake in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,578 shares during the last quarter. Jump Financial LLC purchased a new stake in Steel Dynamics in the second quarter valued at about $1,019,000. Qube Research & Technologies Ltd purchased a new stake in Steel Dynamics in the second quarter valued at about $48,746,000. Finally, Sei Investments Co. raised its stake in Steel Dynamics by 7.9% in the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after buying an additional 7,712 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup increased their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley reiterated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target for the company. in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.36.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is owned by corporate insiders.

Steel Dynamics Stock Up 4.4%

Shares of STLD stock opened at $250.49 on Wednesday. The stock has a 50 day moving average of $205.48 and a 200 day moving average of $186.48. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock has a market cap of $36.25 billion, a P/E ratio of 26.79, a P/E/G ratio of 0.51 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $250.68.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

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

About Steel Dynamics

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.