Kinsale Capital Group Inc. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,558 shares of the basic materials company’s stock after purchasing an additional 2,482 shares during the period. Kinsale Capital Group Inc.’s holdings in Steel Dynamics were worth $9,101,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after buying an additional 618 shares during the period. Acadian Asset Management LLC increased its stake in shares of Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,578 shares during the period. Jump Financial LLC bought a new position in shares of Steel Dynamics during the second quarter worth about $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the second quarter worth about $48,746,000. Finally, Sei Investments Co. lifted its stake in shares of Steel Dynamics by 7.9% in the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after acquiring an additional 7,712 shares during the period. Institutional investors own 82.41% of the company’s stock.
Insider Activity at Steel Dynamics
In other news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of 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. In the last quarter, insiders sold 22,125 shares of company stock worth $5,438,226. Corporate insiders own 6.60% of the company’s stock.
Analyst Upgrades and Downgrades
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Steel Dynamics Stock Up 0.2%
Shares of NASDAQ:STLD opened at $235.51 on Friday. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The business’s 50-day moving average is $245.95 and its 200-day moving average is $208.80. The company has a market capitalization of $34.08 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.44 and a beta of 1.53.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. Equities research analysts predict that Steel Dynamics, Inc. will post 16.92 earnings per share for the current year.
Steel Dynamics Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.
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.
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