4,538 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,538 shares of the basic materials company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also made changes to their positions in STLD. Crestline Management LP increased its holdings in shares of Steel Dynamics by 728.7% during the 4th quarter. Crestline Management LP now owns 92,125 shares of the basic materials company’s stock worth $10,509,000 after buying an additional 81,008 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Steel Dynamics by 6.2% during the fourth quarter. Cetera Investment Advisers now owns 18,308 shares of the basic materials company’s stock worth $2,088,000 after acquiring an additional 1,071 shares during the period. Captrust Financial Advisors increased its holdings in Steel Dynamics by 3.0% during the 4th quarter. Captrust Financial Advisors now owns 56,447 shares of the basic materials company’s stock worth $6,439,000 after purchasing an additional 1,648 shares during the period. Cary Street Partners Financial LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $2,961,000. Finally, Baird Financial Group Inc. raised its holdings in shares of Steel Dynamics by 7.1% in the 4th quarter. Baird Financial Group Inc. now owns 176,984 shares of the basic materials company’s stock valued at $20,189,000 after purchasing an additional 11,758 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. Morgan Stanley set a $140.00 price target on Steel Dynamics and gave the stock an “overweight” rating in a report on Thursday, April 24th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a report on Monday, March 24th. Finally, KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.44.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $131.17 on Wednesday. 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, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The stock has a fifty day moving average of $123.61 and a two-hundred day moving average of $128.15. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.05 and a beta of 1.44.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the firm posted $3.67 earnings per share. On average, analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Steel Dynamics’s payout ratio is 26.42%.

Steel Dynamics declared that its board has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Steel Dynamics Profile

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.