ExodusPoint Capital Management LP Has $27.70 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Jul 23, 2023

ExodusPoint Capital Management LP boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 137.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 245,010 shares of the basic materials company's stock after acquiring an additional 141,907 shares during the period. ExodusPoint Capital Management LP owned 0.14% of Steel Dynamics worth $27,701,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. CENTRAL TRUST Co boosted its position in shares of Steel Dynamics by 569.7% during the first quarter. CENTRAL TRUST Co now owns 221 shares of the basic materials company's stock worth $25,000 after purchasing an additional 188 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Steel Dynamics by 82.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company's stock worth $26,000 after purchasing an additional 105 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Financial Management Professionals Inc. boosted its position in shares of Steel Dynamics by 1,953.8% during the first quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company's stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Steel Dynamics during the first quarter worth $34,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Shares of Steel Dynamics stock traded down $1.96 during trading hours on Wednesday, reaching $102.89. 1,716,289 shares of the company's stock were exchanged, compared to its average volume of 1,665,956. The company has a current ratio of 4.20, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $105.04 and a two-hundred day moving average of $107.61. The stock has a market cap of $17.04 billion, a P/E ratio of 6.11 and a beta of 1.50. Steel Dynamics, Inc. has a fifty-two week low of $69.12 and a fifty-two week high of $136.46.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.51 billion. Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The firm's revenue was down 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.73 earnings per share. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.65%. Steel Dynamics's dividend payout ratio is currently 9.91%.

Several equities research analysts recently commented on STLD shares. BNP Paribas cut shares of Steel Dynamics from an "outperform" rating to a "neutral" rating and set a $102.00 price objective on the stock. in a research report on Wednesday, July 5th. StockNews.com started coverage on shares of Steel Dynamics in a research report on Thursday, August 17th. They issued a "hold" rating on the stock. UBS Group cut their price objective on shares of Steel Dynamics from $110.00 to $100.00 in a research report on Friday, May 5th. Morgan Stanley boosted their price objective on shares of Steel Dynamics from $97.00 to $99.00 and gave the company an "equal weight" rating in a research report on Monday, July 24th. Finally, BMO Capital Markets cut their price objective on shares of Steel Dynamics from $120.00 to $115.00 in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics has a consensus rating of "Hold" and an average target price of $108.44.

Check Out Our Latest Analysis on STLD

In other news, SVP Christopher A. Graham sold 48,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total transaction of $5,041,440.00. Following the transaction, the senior vice president now directly owns 61,353 shares of the company's stock, valued at $6,443,905.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Christopher A. Graham sold 48,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total transaction of $5,041,440.00. Following the transaction, the senior vice president now directly owns 61,353 shares of the company's stock, valued at $6,443,905.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gabriel Shaheen sold 1,717 shares of the firm's stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $105.80, for a total transaction of $181,658.60. Following the transaction, the director now directly owns 83,074 shares in the company, valued at $8,789,229.20. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.

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