Regal Partners Ltd Acquires 57,632 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Regal Partners significantly increased its Steel Dynamics stake by 263.6% in the first quarter, adding 57,632 shares to own 79,493 shares valued at approximately $14.3 million.
• Analysts maintain a generally positive outlook, with seven Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $237.36.
• Steel Dynamics beat quarterly expectations, reporting $3.69 in EPS and $6.09 billion in revenue, while revenue rose 33.4% year over year. The company also pays a quarterly dividend of $0.53, or $2.12 annually.

Regal Partners Ltd lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 263.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,493 shares of the basic materials company's stock after buying an additional 57,632 shares during the quarter. Steel Dynamics comprises approximately 0.8% of Regal Partners Ltd's investment portfolio, making the stock its 28th biggest holding. Regal Partners Ltd owned about 0.05% of Steel Dynamics worth $14,309,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of STLD. Prosperity Bancshares Inc acquired a new stake in Steel Dynamics during the 4th quarter worth $25,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC lifted its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 150 shares during the period. Cedar Mountain Advisors LLC bought a new position in shares of Steel Dynamics in the 1st quarter worth $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth $33,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STLD. Morgan Stanley decreased their price objective on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Bank of America lowered their price target on Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Finally, KeyCorp reiterated an "overweight" rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $237.36.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were 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. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares of the company's stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

STLD stock opened at $259.74 on Wednesday. The business's 50-day moving average price is $247.52 and its two-hundred day moving average price is $212.59. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The firm has a market cap of $37.59 billion, a PE ratio of 23.55, a P/E/G ratio of 0.47 and a beta of 1.53. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm had revenue of $6.09 billion during the quarter, compared to analysts' expectations of $5.56 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The company's revenue was up 33.4% on a year-over-year basis. As a group, research analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics's payout ratio is currently 19.22%.

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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