SteelPeak Wealth LLC Sells 3,383 Shares of Steel Dynamics, Inc. $STLD

SteelPeak Wealth LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,529 shares of the basic materials company’s stock after selling 3,383 shares during the period. SteelPeak Wealth LLC’s holdings in Steel Dynamics were worth $2,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio lifted its holdings in Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after acquiring an additional 10,519 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after purchasing an additional 72,122 shares during the period. Econ Financial Services Corp bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $1,171,000. AIA Group Ltd purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $543,000. Finally, Canada Post Corp Registered Pension Plan increased its position in shares of Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock valued at $1,981,000 after purchasing an additional 4,835 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.2%

Shares of NASDAQ:STLD opened at $235.51 on Friday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The business has a 50 day simple moving average of $245.95 and a two-hundred day simple moving average of $208.80. The firm has a market capitalization of $34.08 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics, Inc. will post 17.27 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup increased their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Barclays began coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. Finally, Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.18.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the 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. This represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,125 shares of company stock valued at $5,438,226 in the last quarter. Corporate insiders own 6.60% of the company’s stock.

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.