Bayforest Capital Ltd Makes New $400,000 Investment in Steel Dynamics, Inc. $STLD

Key Points

• Bayforest Capital Ltd made a new investment in Steel Dynamics, Inc., acquiring 3,128 shares valued at approximately $400,000.
• Analysts have raised their target prices for Steel Dynamics, with Morgan Stanley setting a new target of $145.00 and JPMorgan Chase increasing theirs to $160.00.
• Steel Dynamics announced a quarterly dividend of $0.50 per share, representing a 1.4% dividend yield and a payout ratio of 29.15%.

Bayforest Capital Ltd acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,128 shares of the basic materials company's stock, valued at approximately $400,000.

Other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $25,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 163 shares during the period. Trust Co. of Toledo NA OH acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $32,000. Finally, WPG Advisers LLC acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $32,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $146.05 on Thursday. The firm's fifty day moving average price is $134.68 and its 200 day moving average price is $130.32. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm has a market cap of $21.50 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40.

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

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.50 per share. 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 payout ratio is presently 29.15%.

Steel Dynamics Company 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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