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

James Investment Research Inc. increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 39.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,828 shares of the basic materials company’s stock after purchasing an additional 3,041 shares during the period. James Investment Research Inc.’s holdings in Steel Dynamics were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in STLD. Jacobi Capital Management LLC grew its stake in shares of Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after buying an additional 55 shares in the last quarter. Optas LLC boosted its holdings in Steel Dynamics by 3.0% in the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 58 shares during the period. Hohimer Wealth Management LLC boosted its holdings in Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after acquiring an additional 61 shares during the period. Wright Investors Service Inc. grew its position in Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after acquiring an additional 64 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in Steel Dynamics by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock valued at $431,000 after acquiring an additional 64 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. Bank of America cut their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Citigroup raised their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.36.

Steel Dynamics Stock Down 3.4%

Shares of NASDAQ:STLD opened at $221.76 on Thursday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $245.98 and a 200 day simple moving average of $204.36. The firm has a market cap 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, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 16.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given 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 dividend yield of 1.0%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Insider Transactions at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value 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 $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,125 shares of company stock valued at $5,438,226 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

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.