Perbak Capital Partners LLP Buys New Shares in Steel Dynamics, Inc. $STLD

Key Points

• Perbak Capital Partners LLP recently acquired a new stake of 2,646 shares in Steel Dynamics, Inc., valued at approximately $331,000, during the first quarter.
• Steel Dynamics' recent earnings report revealed an EPS of $2.01, missing estimates, with quarterly revenue of $4.57 billion, down 1.5% year-over-year.
• The company declared a quarterly dividend of $0.50, which will be paid on October 10th, reflecting an annualized dividend yield of 1.5%.

Perbak Capital Partners LLP bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,646 shares of the basic materials company's stock, valued at approximately $331,000.

Other large investors have also bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC boosted its position in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after purchasing an additional 163 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Steel Dynamics during the 1st quarter valued at about $32,000. WPG Advisers LLC purchased a new position in shares of Steel Dynamics during the 1st quarter valued at about $32,000. Finally, Grove Bank & Trust lifted its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after buying an additional 183 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

STLD stock traded up $1.27 during mid-day trading on Thursday, reaching $130.86. 947,006 shares of the company's stock were exchanged, compared to its average volume of 1,183,389. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. The stock's 50 day moving average is $129.40 and its 200 day moving average is $128.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56.

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

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. Steel Dynamics's dividend payout ratio is presently 29.15%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. Morgan Stanley lifted their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of "Moderate Buy" and an average price target of $148.70.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director directly owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

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.