Alpine Woods Capital Investors LLC Raises Position in Steel Dynamics, Inc. $STLD

Key Points

• Alpine Woods Capital Investors increased its Steel Dynamics stake by 10.3% in the first quarter, bringing its holdings to 44,156 shares worth approximately $7.95 million. Institutional investors collectively own 82.41% of STLD.
• Steel Dynamics reported a strong quarter, with EPS of $3.69 beating estimates and revenue rising 33.4% year over year to $6.09 billion. Analysts expect full-year EPS of $17.16.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and a $249 target price. The company also pays a quarterly dividend of $0.53, while two senior vice presidents recently sold shares.

Alpine Woods Capital Investors LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,156 shares of the basic materials company's stock after buying an additional 4,117 shares during the period. Steel Dynamics accounts for about 1.9% of Alpine Woods Capital Investors LLC's investment portfolio, making the stock its 10th biggest position. Alpine Woods Capital Investors LLC's holdings in Steel Dynamics were worth $7,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Steel Dynamics by 307.5% during 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 holdings in shares of Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company's stock worth $435,000 after purchasing an additional 1,578 shares during the period. Jump Financial LLC bought a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $48,746,000. Finally, Sei Investments Co. raised its holdings in Steel Dynamics by 7.9% during the 2nd 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 period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Performance

STLD stock opened at $251.26 on Friday. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The firm has a market cap of $36.01 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.48 and a beta of 1.53. The business's fifty day simple moving average is $248.64 and its two-hundred day simple moving average is $214.00. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45.

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

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's payout ratio is 19.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STLD. Barclays raised their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on shares of Steel Dynamics from $291.00 to $275.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. BMO Capital Markets increased their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Citigroup raised their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley dropped their price target on shares of Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

Insider Activity

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The shares were 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 owned 102,837 shares of the company's stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company's stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by insiders.

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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