Fairvoy Private Wealth LLC Invests $874,000 in Steel Dynamics, Inc. $STLD

Key Points

• Fairvoy Private Wealth LLC disclosed a new first-quarter stake in Steel Dynamics, buying 4,858 shares valued at about $874,000.
• Wall Street sentiment on STLD remains constructive, with multiple firms raising targets or ratings and the consensus view at “Moderate Buy” with an average price target of $236.36.
• Steel Dynamics reported Q1 EPS of $2.78, narrowly missing estimates, while revenue rose 19.1% year over year to $5.20 billion; the company also announced a $0.53 quarterly dividend.

Fairvoy Private Wealth LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,858 shares of the basic materials company's stock, valued at approximately $874,000.

A number of other hedge funds have also recently bought and sold shares of the business. Kestra Private Wealth Services LLC boosted its stake in shares of Steel Dynamics by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company's stock valued at $431,000 after buying an additional 64 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Steel Dynamics by 23.0% in the first quarter. Blue Trust Inc. now owns 1,037 shares of the basic materials company's stock worth $187,000 after buying an additional 194 shares during the last quarter. OP Asset Management Ltd bought a new stake in shares of Steel Dynamics in the first quarter worth $2,568,000. Apella Capital LLC acquired a new stake in Steel Dynamics in the first quarter valued at $5,183,000. Finally, Assenagon Asset Management S.A. raised its holdings in Steel Dynamics by 5.3% in the first quarter. Assenagon Asset Management S.A. now owns 6,385 shares of the basic materials company's stock valued at $1,149,000 after acquiring an additional 324 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STLD. Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Morgan Stanley upped their target price on shares of Steel Dynamics from $227.00 to $270.00 and gave the company an "equal weight" rating in a research note on Monday. Weiss Ratings raised shares of Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. KeyCorp lifted their price target on Steel Dynamics from $241.00 to $262.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of "Moderate Buy" and an average target price of $236.36.

Steel Dynamics Stock Up 4.0%

Shares of NASDAQ:STLD opened at $251.00 on Friday. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 0.47 and a beta of 1.50. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The company's fifty day moving average is $243.35 and its two-hundred day moving average is $202.56. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the firm posted $1.44 earnings per share. The company's quarterly revenue was up 19.1% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post 16.91 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics's dividend payout ratio is 22.67%.

Insider Buying and Selling

In related news, Director Kenneth W. Cornew sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director owned 31,299 shares in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares of the company's stock, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,125 shares of company stock valued at $5,438,226 over the last quarter. Company insiders own 6.60% of the company's stock.

Steel Dynamics 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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