Dayah Capital LLC Invests $1.98 Million in Steel Dynamics, Inc. $STLD

Key Points

• Dayah Capital acquired 11,000 Steel Dynamics shares worth approximately $1.98 million, while institutional investors collectively own 82.41% of the company.
• Analysts remain broadly positive, with eight Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $249.
• Steel Dynamics exceeded quarterly expectations, reporting $3.69 in earnings per share and $6.09 billion in revenue, with revenue up 33.4% year over year. The company also maintains a quarterly dividend of $0.53, yielding about 0.8% annually.

Dayah Capital LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,000 shares of the basic materials company's stock, valued at approximately $1,980,000. Steel Dynamics makes up about 0.8% of Dayah Capital LLC's holdings, making the stock its 24th biggest holding.

Several other large investors have also bought and sold shares of STLD. Bank of America Corp DE lifted its holdings in shares of Steel Dynamics by 19.1% in the first quarter. Bank of America Corp DE now owns 1,340,234 shares of the basic materials company's stock worth $241,242,000 after acquiring an additional 215,029 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Steel Dynamics by 21.3% during the 1st quarter. Janus Henderson Group PLC now owns 20,874 shares of the basic materials company's stock valued at $3,758,000 after purchasing an additional 3,664 shares during the last quarter. Arkadios Wealth Advisors increased its position in Steel Dynamics by 17.1% during the 1st quarter. Arkadios Wealth Advisors now owns 2,961 shares of the basic materials company's stock worth $533,000 after purchasing an additional 433 shares in the last quarter. Amundi increased its position in Steel Dynamics by 36.1% during the 1st quarter. Amundi now owns 331,826 shares of the basic materials company's stock worth $59,729,000 after purchasing an additional 87,926 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Steel Dynamics by 40.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,292 shares of the basic materials company's stock valued at $413,000 after purchasing an additional 656 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. 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. BMO Capital Markets boosted their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of "Moderate Buy" and an average price target of $249.00.

Steel Dynamics Trading Up 0.1%

NASDAQ:STLD opened at $252.50 on Friday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The firm's fifty day moving average is $248.41 and its 200-day moving average is $213.74. The firm has a market cap of $36.19 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.48 and a beta of 1.53.

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

Steel Dynamics Dividend Announcement

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

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value 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. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by insiders.

Steel Dynamics Company Profile

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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