Stevens Capital Management LP Takes Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Stevens Capital Management LP has taken a new position in Steel Dynamics, buying 2,546 shares worth approximately $318,000 in the first quarter, as disclosed in their recent SEC filing.
• Steel Dynamics has faced challenges, reporting a decrease in revenue and a miss on EPS estimates, with a quarterly EPS of $2.01 compared to the expected $2.05.
• The stock is currently trading at around $130.83, with a 52-week range of $103.17 to $155.56 and a market cap of $19.42 billion.

Stevens Capital Management LP acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,546 shares of the basic materials company's stock, valued at approximately $318,000.

Several other institutional investors also recently bought and sold shares of the business. Forum Financial Management LP grew its holdings in Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after purchasing an additional 75 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after acquiring an additional 91 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 100 shares in the last quarter. OneAscent Financial Services LLC lifted its position in shares of Steel Dynamics by 2.2% in the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock valued at $527,000 after acquiring an additional 101 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Steel Dynamics by 6.3% in the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after acquiring an additional 102 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the sale, the senior vice president directly owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD traded up $0.59 during midday trading on Wednesday, hitting $128.11. The company had a trading volume of 296,424 shares, compared to its average volume of 1,650,762. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. The business's 50-day simple moving average is $130.99 and its 200-day simple moving average is $128.22.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its 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). The business 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%. Steel Dynamics's revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.72 EPS. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STLD shares. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley raised their target price on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. raised their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $149.33.

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.