Steel Dynamics, Inc. $STLD Shares Acquired by James Investment Research Inc.

James Investment Research Inc. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 39.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,828 shares of the basic materials company’s stock after purchasing an additional 3,041 shares during the quarter. James Investment Research Inc.’s holdings in Steel Dynamics were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFM Investors Pty Ltd boosted its stake in Steel Dynamics by 6.4% in the first quarter. IFM Investors Pty Ltd now owns 27,519 shares of the basic materials company’s stock valued at $4,953,000 after acquiring an additional 1,657 shares during the period. Inspire Investing LLC raised its position in shares of Steel Dynamics by 4.1% during the 1st quarter. Inspire Investing LLC now owns 16,626 shares of the basic materials company’s stock worth $2,993,000 after purchasing an additional 659 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Steel Dynamics by 74.3% in the 1st quarter. Apollon Wealth Management LLC now owns 7,353 shares of the basic materials company’s stock worth $1,324,000 after purchasing an additional 3,135 shares during the last quarter. Patton Fund Management Inc. lifted its holdings in shares of Steel Dynamics by 1,714.8% in the 1st quarter. Patton Fund Management Inc. now owns 23,484 shares of the basic materials company’s stock worth $4,227,000 after purchasing an additional 22,190 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Steel Dynamics by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 24,676 shares of the basic materials company’s stock valued at $4,442,000 after purchasing an additional 2,036 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 3.4%

Shares of STLD stock opened at $221.76 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The stock has a fifty day moving average of $245.98 and a two-hundred day moving average of $204.36. The firm has a market capitalization of $32.09 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 1.0%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STLD. Morgan Stanley upped their price objective on Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. Barclays started coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target for the company. Citigroup upped their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.36.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,125 shares of company stock worth $5,438,226 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

About Steel Dynamics

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.