Jupiter Topco LLC Invests $8 Million in Steel Dynamics, Inc. $STLD

Jupiter Topco LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 34,887 shares of the basic materials company’s stock, valued at approximately $8,004,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Steel Dynamics in the 2nd quarter worth $26,000. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new position in shares of Steel Dynamics during the fourth quarter valued at about $27,000. Cedar Mountain Advisors LLC purchased a new position in shares of Steel Dynamics during the first quarter valued at about $31,000. Finally, Toews Corp ADV bought a new position in Steel Dynamics in the second quarter worth about $43,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.0%

NASDAQ:STLD opened at $234.66 on Monday. The firm has a market capitalization of $33.63 billion, a P/E ratio of 21.27, a PEG ratio of 0.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. Steel Dynamics, Inc. has a one year low of $126.88 and a one year high of $288.74. The company’s 50-day simple moving average is $242.07 and its 200 day simple moving average is $223.77.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating 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 business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Analysts Set New Price Targets

Several analysts have commented on STLD shares. Wells Fargo & Company lowered their price objective on shares of Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, August 24th. Barclays increased their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Bank of America lowered their target price on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Finally, UBS Group upped their price target on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus target price of $257.27.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.60% of the stock is currently owned by company insiders.

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.