Marble Wealth LLC Makes New $705,000 Investment in Steel Dynamics, Inc. $STLD

Marble Wealth LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,158 shares of the basic materials company’s stock, valued at approximately $705,000.

Several other hedge funds have also recently added to or reduced their stakes in STLD. Cornerstone Planning Group LLC grew its position in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares during the last quarter. Sound Income Strategies LLC grew its position in Steel Dynamics by 1,500.0% in 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 last quarter. Torren Management LLC acquired a new position in Steel Dynamics in the fourth quarter worth approximately $34,000. Nvest Wealth Strategies Inc. acquired a new position in Steel Dynamics in the fourth quarter worth approximately $42,000. Finally, Eagle Bay Advisors LLC acquired a new position in Steel Dynamics in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on STLD shares. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Bank of America lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target on the stock. in a research report on Thursday, April 30th. Barclays began coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $219.36.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,125 shares of company stock valued at $2,751,227 in the last quarter. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Up 1.4%

Steel Dynamics stock opened at $275.13 on Thursday. The company has a 50 day moving average price of $216.95 and a 200 day moving average price of $191.16. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $277.79. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 0.58 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $1.44 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Research analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

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.