Alpine Woods Capital Investors LLC Invests $6.19 Million in Steel Dynamics, Inc. $STLD

Key Points

• Alpine Woods Capital Investors acquired 26,994 Steel Dynamics shares valued at approximately $6.19 million, while institutional investors collectively own 82.41% of the company.
• Steel Dynamics reported quarterly EPS of $3.69, exceeding estimates of $3.63, on revenue of $6.09 billion that rose 33.4% year over year.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 payout and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $259.09.

Alpine Woods Capital Investors LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,994 shares of the basic materials company's stock, valued at approximately $6,194,000. Steel Dynamics comprises about 1.3% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 21st biggest holding.

Several other institutional investors have also added to or reduced their stakes in STLD. NewEdge Advisors LLC lifted its holdings in shares of Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company's stock worth $102,000 after acquiring an additional 618 shares during the last quarter. Acadian Asset Management LLC boosted its position 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 in the last quarter. Jump Financial LLC bought a new stake in shares of Steel Dynamics during the second quarter worth $1,019,000. Qube Research & Technologies Ltd bought a new stake in shares of Steel Dynamics during the second quarter worth $48,746,000. Finally, Sei Investments Co. increased its holdings in shares of Steel Dynamics by 7.9% during the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company's stock worth $13,447,000 after buying an additional 7,712 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.60% of the company's stock.

Steel Dynamics Trading Down 3.2%

Shares of STLD stock opened at $249.81 on Wednesday. Steel Dynamics, Inc. has a 1-year low of $124.77 and a 1-year high of $288.74. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The stock has a market cap of $35.81 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.48 and a beta of 1.52. The stock has a 50-day moving average of $248.10 and a 200-day moving average of $221.61.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping analysts' consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The firm's quarterly revenue was up 33.4% on a year-over-year basis. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics's dividend payout ratio is 19.22%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group increased their price target on Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Wells Fargo & Company dropped their target price on Steel Dynamics from $291.00 to $275.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Morgan Stanley reduced their price target on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. Finally, Barclays upped their price objective on Steel Dynamics from $270.00 to $272.00 and gave the company an "overweight" rating in a research note on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average price target of $259.09.

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.

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