Woodline Partners LP Increases Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Woodline Partners LP increased its stake in Steel Dynamics, Inc. by 4.7% in the first quarter, owning 147,808 shares valued at approximately $18.5 million.
• Analysts have given Steel Dynamics a consensus rating of "Moderate Buy", with target prices ranging from $138 to $150.
• Steel Dynamics recently declared a quarterly dividend of $0.50 per share, reflecting an annualized dividend yield of 1.5%.

Woodline Partners LP lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,808 shares of the basic materials company's stock after purchasing an additional 6,584 shares during the quarter. Woodline Partners LP owned about 0.10% of Steel Dynamics worth $18,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Forum Financial Management LP boosted its holdings in shares of Steel Dynamics by 2.5% in the 4th quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock worth $355,000 after purchasing an additional 75 shares during the period. Hemington Wealth Management increased its stake in Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock worth $39,000 after purchasing an additional 84 shares during the period. Sequoia Financial Advisors LLC increased its stake in 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 worth $726,000 after purchasing an additional 91 shares during the period. Sunbelt Securities Inc. increased its stake in Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock worth $63,000 after purchasing an additional 100 shares during the period. Finally, Parallel Advisors LLC increased its stake in Steel Dynamics by 6.3% in the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock worth $217,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company upgraded Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Morgan Stanley increased their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.70.

Steel Dynamics Trading Up 1.9%

Shares of NASDAQ STLD opened at $132.72 on Thursday. The firm has a market cap of $19.54 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. 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, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The business has a fifty day simple moving average of $129.57 and a two-hundred day simple moving average of $128.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 earnings per share. Analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's payout ratio is presently 29.15%.

Insider Activity at Steel Dynamics

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

About Steel Dynamics

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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