Alpine Woods Capital Investors LLC Increases Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Alpine Woods Capital Investors LLC increased its holdings in Steel Dynamics, Inc. by 10.4%, acquiring an additional 4,489 shares, bringing their total to 47,773 shares valued at $6,115,000.
• Steel Dynamics recently announced a quarterly dividend of $0.50 per share, yielding an annualized dividend of $2.00, reflecting a 29.15% dividend payout ratio.
• Analysts have positive outlooks for Steel Dynamics, with an average rating of "Moderate Buy" and a consensus price target of $149.89, reflecting strong investor confidence despite a slight earnings miss.

Alpine Woods Capital Investors LLC boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,773 shares of the basic materials company's stock after purchasing an additional 4,489 shares during the period. Steel Dynamics comprises 1.5% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 18th biggest holding. Alpine Woods Capital Investors LLC's holdings in Steel Dynamics were worth $6,115,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock worth $883,854,000 after purchasing an additional 1,437,897 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after purchasing an additional 1,475,767 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company's stock valued at $214,541,000 after purchasing an additional 484,304 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company's stock valued at $200,012,000 after purchasing an additional 52,218 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Steel Dynamics by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company's stock valued at $175,821,000 after acquiring an additional 30,759 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday. Morgan Stanley upped their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $149.89.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is currently owned by company insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $145.54 on Tuesday. The company has a market capitalization of $21.42 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.15 and a beta of 1.40. The business's 50 day moving average is $133.73 and its two-hundred day moving average is $130.09. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.72 EPS. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Steel Dynamics 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.

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