Steel Dynamics, Inc. $STLD Shares Acquired by Sapient Capital LLC

Key Points

• Sapient Capital increased its Steel Dynamics stake by 34.6% in the second quarter, owning 447,664 shares valued at approximately $103 million. Institutional investors and hedge funds collectively hold 82.41% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and four Holds. Steel Dynamics has a “Moderate Buy” consensus rating and an average price target of $249.
• Steel Dynamics exceeded quarterly expectations, reporting $3.69 in earnings per share versus a $3.63 estimate and $6.09 billion in revenue, up 33.4% year over year. Two senior vice presidents separately sold company shares during the period.

Sapient Capital LLC grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 34.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 447,664 shares of the basic materials company's stock after acquiring an additional 115,080 shares during the period. Steel Dynamics comprises 1.3% of Sapient Capital LLC's investment portfolio, making the stock its 11th biggest holding. Sapient Capital LLC owned approximately 0.31% of Steel Dynamics worth $102,958,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in STLD. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in Steel Dynamics during the fourth quarter worth $27,000. Sound Income Strategies LLC boosted its position in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock worth $28,000 after buying an additional 150 shares during the period. Cedar Mountain Advisors LLC purchased a new position in shares of Steel Dynamics during the first quarter worth $31,000. Finally, DV Equities LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at $33,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STLD shares. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Wednesday, July 29th. They set a "buy" rating and a $300.00 target price for the company. Morgan Stanley dropped their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $249.00.

Insiders Place Their Bets

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction 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 sale, the senior vice president directly owned 102,837 shares of the company's stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $262.45 on Monday. The firm has a market cap of $37.62 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.50 and a beta of 1.52. The stock has a fifty day moving average price of $249.51 and a 200 day moving average price of $217.49. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics's revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Company Profile

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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