J. Safra Sarasin Holding AG Boosts Stake in Steel Dynamics, Inc. $STLD

Key Points

• J. Safra Sarasin Holding AG increased its stake in Steel Dynamics by 1,015.3% in the first quarter, ending with 13,763 shares valued at about $2.48 million.
• Steel Dynamics reported mixed quarterly results, with EPS of $2.78 slightly missing estimates and revenue of $5.20 billion below expectations, though revenue still rose 19.1% year over year.
• The company paid a quarterly dividend of $0.53 per share and has seen notable analyst activity, with the stock carrying a Moderate Buy consensus price target of $234.55.

J. Safra Sarasin Holding AG grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1,015.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,763 shares of the basic materials company's stock after purchasing an additional 12,529 shares during the period. J. Safra Sarasin Holding AG's holdings in Steel Dynamics were worth $2,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jacobi Capital Management LLC boosted its stake in shares of Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company's stock valued at $599,000 after purchasing an additional 55 shares in the last quarter. Optas LLC lifted its stake in Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock worth $335,000 after purchasing an additional 58 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company's stock valued at $967,000 after buying an additional 61 shares during the period. Wright Investors Service Inc. grew its position in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock worth $941,000 after acquiring an additional 64 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in shares of Steel Dynamics by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company's stock worth $431,000 after purchasing an additional 64 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $234.14 on Tuesday. The company has a 50 day moving average price of $246.11 and a 200-day moving average price of $207.36. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The firm has a market capitalization of $33.88 billion, a PE ratio of 25.04, a P/E/G ratio of 0.44 and a beta of 1.53. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company earned $1.44 EPS. The firm's revenue for the quarter was up 19.1% on a year-over-year basis. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 16.73 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's dividend payout ratio is presently 22.67%.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated 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 represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,125 shares of company stock valued at $5,438,226 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Steel Dynamics from $227.00 to $270.00 and gave the stock an "equal weight" rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. 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. Bank of America dropped their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Finally, KeyCorp upped their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.55.

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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