SteelPeak Wealth LLC Makes New $341,000 Investment in Steel Dynamics, Inc. $STLD

Key Points

• SteelPeak Wealth LLC invested approximately $341,000 in Steel Dynamics, acquiring 2,650 shares in the second quarter.
• Steel Dynamics reported $2.01 earnings per share for the last quarter, missing estimates by $0.04 with a revenue of $4.57 billion, down 1.5% year-over-year.
• The company recently declared a quarterly dividend of $0.50 per share, with an annualized yield of 1.4% and a payout ratio of 29.15%.

SteelPeak Wealth LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,650 shares of the basic materials company's stock, valued at approximately $341,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after buying an additional 1,475,767 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Steel Dynamics by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock valued at $883,854,000 after buying an additional 1,437,897 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Steel Dynamics by 531.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock valued at $149,054,000 after buying an additional 1,002,813 shares during the period. Nuveen LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $62,470,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Steel Dynamics by 302.3% in the 1st quarter. AQR Capital Management LLC now owns 350,376 shares of the basic materials company's stock valued at $42,988,000 after buying an additional 263,278 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $147.78 on Friday. The stock has a fifty day moving average price of $132.87 and a 200 day moving average price of $129.83. The stock has a market cap of $21.75 billion, a PE ratio of 21.54, a P/E/G ratio of 1.19 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $2.72 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics's dividend payout ratio (DPR) is presently 29.15%.

Analysts Set New Price Targets

STLD has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Steel Dynamics in a report on Wednesday. Morgan Stanley raised their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Wells Fargo & Company raised their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.78.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction 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 completion of the transaction, 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 filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company's stock.

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.

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