Militia Capital Management LLC Makes New Investment in Steel Dynamics, Inc. $STLD

Militia Capital Management LLC bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,523 shares of the basic materials company’s stock, valued at approximately $2,074,000.

A number of other hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Steel Dynamics by 14.6% during the 1st quarter. Parallel Advisors LLC now owns 2,106 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 268 shares in the last quarter. NewEdge Advisors LLC boosted its position in Steel Dynamics by 15.2% in the first quarter. NewEdge Advisors LLC now owns 14,134 shares of the basic materials company’s stock valued at $2,544,000 after buying an additional 1,865 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its position in Steel Dynamics by 10.3% in the first quarter. Alpine Woods Capital Investors LLC now owns 44,156 shares of the basic materials company’s stock valued at $7,948,000 after buying an additional 4,117 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of Steel Dynamics by 3.3% during the first quarter. Glenmede Trust Co. NA now owns 3,439 shares of the basic materials company’s stock worth $619,000 after buying an additional 109 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of Steel Dynamics during the first quarter worth $425,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $251.26 on Monday. The firm has a 50 day moving average price of $248.64 and a two-hundred day moving average price of $214.32. The stock has a market cap of $36.01 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18.

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

Steel Dynamics Announces Dividend

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

Insider Activity

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the company’s 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 in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, 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. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on STLD. Citigroup upped their price target 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. Wells Fargo & Company cut their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Morgan Stanley lowered their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Steel Dynamics 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.