Atlas Capital Advisors Inc. Acquires New Holdings in Steel Dynamics, Inc. $STLD

Atlas Capital Advisors Inc. acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,063 shares of the basic materials company’s stock, valued at approximately $519,000.

Other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its holdings in 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 valued at $28,000 after purchasing an additional 150 shares in the last quarter. Torren Management LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $34,000. Nvest Wealth Strategies Inc. purchased a new position in Steel Dynamics in the 4th quarter valued at about $42,000. Eagle Bay Advisors LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $45,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Steel Dynamics in the 3rd quarter valued at about $46,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STLD shares. Morgan Stanley restated an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $224.64.

Insider Buying and Selling at Steel Dynamics

In related news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,125 shares of company stock worth $5,438,227 in the last quarter. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Down 3.7%

Shares of STLD stock opened at $272.19 on Tuesday. The firm has a market cap of $39.39 billion, a P/E ratio of 29.11, a PEG ratio of 0.56 and a beta of 1.50. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The firm’s 50-day simple moving average is $232.58 and its 200-day simple moving average is $197.70.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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 return on equity of 15.54% and a net margin of 7.22%.The company’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 15.85 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

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.