Steel Dynamics, Inc. $STLD Shares Acquired by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. increased its stake in Steel Dynamics, Inc. by 58.6% during the second quarter, owning a total of 4,900 shares valued at approximately $627,000 at the end of that period.
• Steel Dynamics reported earnings per share (EPS) of $2.01 for the last quarter, missing expectations, and recorded a revenue decline of 1.5% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, representing an annual yield of 1.4% with a payout ratio of 29.15%.

Praxis Investment Management Inc. lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 58.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,900 shares of the basic materials company's stock after purchasing an additional 1,810 shares during the period. Praxis Investment Management Inc.'s holdings in Steel Dynamics were worth $627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Financial Gravity Asset Management Inc. purchased a new position in Steel Dynamics in the first quarter valued at $25,000. Cary Street Partners Investment Advisory LLC boosted its holdings 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 purchasing an additional 163 shares during the period. Trust Co. of Toledo NA OH purchased a new position in Steel Dynamics in the second quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new position in Steel Dynamics in the first quarter valued at $32,000. Finally, WPG Advisers LLC purchased a new position in Steel Dynamics in the first quarter valued at $32,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $142.75 on Friday. The stock has a market capitalization of $21.01 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The stock's 50-day moving average price is $135.49 and its 200 day moving average price is $130.57. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

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 the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm earned $2.72 EPS. The business's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics's payout ratio is presently 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on STLD shares. Wells Fargo & Company lifted their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, September 15th. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $150.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Weiss Ratings restated a "hold (c)" rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $149.89.

Steel Dynamics 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.

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