12,500 Shares in Steel Dynamics, Inc. $STLD Acquired by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP has acquired a new stake in Steel Dynamics, Inc., purchasing 12,500 shares valued at approximately $1.56 million.
• Research reports indicate a generally positive outlook for Steel Dynamics, with Morgan Stanley and JPMorgan Chase both raising their price targets, and the company receiving an overall consensus rating of Moderate Buy.
• Steel Dynamics has declared a quarterly dividend of $0.50 per share, representing a 1.5% annual yield, with the dividend payout ratio at 29.15%.

Point72 Europe London LLP purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,500 shares of the basic materials company's stock, valued at approximately $1,564,000.

Several other large investors also recently added to or reduced their stakes in STLD. Financial Gravity Asset Management Inc. purchased a new position in shares of Steel Dynamics during the 1st quarter valued at $25,000. Cary Street Partners Investment Advisory LLC increased its stake 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 valued at $25,000 after acquiring an additional 163 shares during the period. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics during the first quarter worth about $32,000. WPG Advisers LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $32,000. Finally, Grove Bank & Trust lifted its holdings in Steel Dynamics by 194.7% in the first 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 during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on STLD. Wells Fargo & Company upgraded shares of Steel Dynamics to a "strong-buy" rating in a report on Thursday, August 14th. Morgan Stanley lifted their target price on shares of 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 target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $148.70.

Insider Buying and Selling

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

Steel Dynamics Stock Up 0.4%

Shares of STLD stock traded up $0.57 on Wednesday, hitting $129.59. The stock had a trading volume of 1,149,116 shares, compared to its average volume of 1,165,045. The stock has a market cap of $19.08 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40. The business has a 50 day moving average of $129.41 and a 200 day moving average of $128.18. 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 posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. Steel Dynamics's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.72 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is currently 29.15%.

About Steel Dynamics

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.