Marble Wealth LLC Takes Position in Steel Dynamics, Inc. $STLD

Key Points

• Marble Wealth LLC disclosed a new fourth-quarter stake in Steel Dynamics, buying 4,158 shares worth about $705,000. Other institutional investors also added to STLD, and institutions now own 82.41% of the stock.
• Steel Dynamics reported Q1 earnings of $2.78 per share, just below estimates, while revenue of $5.20 billion missed expectations but still rose 19.1% year over year. Analysts currently expect the company to earn 14.77 EPS for the full fiscal year.
• The company announced a quarterly dividend of $0.53 per share, payable July 10, implying an annualized yield of about 0.8%. Meanwhile, analysts remain mixed, with a consensus rating of Moderate Buy and a consensus price target of $219.36.

Marble Wealth LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,158 shares of the basic materials company's stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Optas LLC increased its stake in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 58 shares during the period. Wright Investors Service Inc. increased its stake in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after purchasing an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Steel Dynamics by 4.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock valued at $246,000 after purchasing an additional 70 shares during the period. Root Financial Partners LLC increased its stake in shares of Steel Dynamics by 22.2% in the fourth quarter. Root Financial Partners LLC now owns 424 shares of the basic materials company's stock valued at $72,000 after purchasing an additional 77 shares during the period. Finally, Choreo LLC increased its stake in shares of Steel Dynamics by 3.3% in the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 80 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $275.13 on Thursday. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $277.79. The stock has a market cap of $39.82 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 0.58 and a beta of 1.50. The stock's 50 day moving average price is $216.95 and its 200 day moving average price is $191.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its 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 return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $1.44 EPS. Steel Dynamics's revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors 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 yield of 0.8%. Steel Dynamics's payout ratio is presently 22.67%.

Analyst Ratings Changes

Several brokerages have commented on STLD. Bank of America lowered shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price target on the stock. in a research note on Thursday, April 30th. KeyCorp raised their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and a consensus price target of $219.36.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 4,825 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president owned 122,257 shares of the company's stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,125 shares of company stock valued at $2,751,227 over the last quarter. Corporate insiders own 6.60% of the company's stock.

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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