Curat Global LLC Buys Shares of 1,040 Steel Dynamics, Inc. (NASDAQ:STLD)

Curat Global LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,040 shares of the basic materials company’s stock, valued at approximately $130,000.

Other hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $39,000. Investment Management Corp VA ADV purchased a new position in Steel Dynamics during the 4th quarter valued at about $40,000. Avalon Trust Co purchased a new position in Steel Dynamics during the 4th quarter valued at about $42,000. Park Square Financial Group LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $45,000. Finally, Sunbelt Securities Inc. increased its holdings in Steel Dynamics by 100.0% during the 4th quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on STLD. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. Wall Street Zen downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $135.00 to $145.00 in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.44.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $133.56 on Friday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm has a 50 day moving average price of $126.17 and a 200 day moving average price of $127.21. The company has a market cap of $19.83 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. Steel Dynamics’s dividend payout ratio (DPR) is 26.42%.

Steel Dynamics declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president now directly owns 125,319 shares of the company’s stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

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.