Cornerstone Wealth Group LLC Increases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Cornerstone Wealth Group LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,868 shares of the basic materials company’s stock after purchasing an additional 1,119 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Steel Dynamics were worth $2,837,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Holocene Advisors LP raised its position in Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after buying an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Steel Dynamics by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after acquiring an additional 96,122 shares during the period. Nordea Investment Management AB raised its holdings in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the period. Finally, Barclays PLC boosted its holdings in Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after purchasing an additional 80,262 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.0 %

Shares of NASDAQ STLD opened at $122.35 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm’s 50-day moving average is $127.27 and its two-hundred day moving average is $126.38. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a market capitalization of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period last year, the firm posted $2.61 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is 18.78%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STLD. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. UBS Group restated a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Citigroup cut their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $143.38.

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.