Leigh Baldwin & CO. LLC Buys Shares of 2,360 Steel Dynamics, Inc. $STLD

Leigh Baldwin & CO. LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,360 shares of the basic materials company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLD. Prosperity Bancshares Inc purchased a new position in Steel Dynamics in the fourth quarter worth about $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC grew its holdings in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $31,000. Finally, DV Equities LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $252.50 on Friday. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The stock has a market cap of $36.19 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.48 and a beta of 1.53. The company’s 50 day moving average is $248.41 and its two-hundred day moving average is $213.74. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio is currently 19.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their target price on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Barclays boosted their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. Bank of America lowered their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Wednesday. They issued a “buy” rating and a $300.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.00.

About Steel Dynamics

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.