Alpine Woods Capital Investors LLC Purchases 38,084 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Alpine Woods Capital Investors LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 732.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,284 shares of the basic materials company's stock after purchasing an additional 38,084 shares during the quarter. Steel Dynamics comprises 1.4% of Alpine Woods Capital Investors LLC's holdings, making the stock its 22nd largest holding. Alpine Woods Capital Investors LLC's holdings in Steel Dynamics were worth $5,414,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after acquiring an additional 451,630 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Steel Dynamics by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company's stock valued at $419,697,000 after acquiring an additional 30,350 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Steel Dynamics by 29.4% during the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock valued at $409,816,000 after acquiring an additional 815,629 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Steel Dynamics by 14.1% during the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock valued at $362,636,000 after acquiring an additional 393,516 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $336,426,000. 82.41% of the stock is currently owned by institutional investors.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on STLD. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $135.00 to $145.00 in a report on Monday, March 31st. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a research note on Monday, March 24th. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Morgan Stanley lifted their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $148.00.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded down $2.30 during trading on Friday, reaching $135.07. 822,398 shares of the stock traded hands, compared to its average volume of 1,535,037. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The company has a 50-day moving average of $131.70 and a 200-day moving average of $126.99. The stock has a market capitalization of $20.05 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same quarter in the prior year, the firm posted $3.67 EPS. Analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. Steel Dynamics's dividend payout ratio (DPR) is 26.42%.

About Steel Dynamics

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.