Cornerstone Select Advisors LLC Acquires New Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Cornerstone Select Advisors LLC bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,538 shares of the basic materials company's stock, valued at approximately $518,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. IAG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter worth $39,000. Avalon Trust Co bought a new position in shares of Steel Dynamics in the fourth quarter worth about $42,000. Finally, Golden State Wealth Management LLC bought a new position in Steel Dynamics in the 4th quarter worth approximately $48,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on STLD shares. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.44.

Steel Dynamics Stock Down 1.5 %

Steel Dynamics stock opened at $131.17 on Wednesday. The stock 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, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The business has a fifty day moving average price of $123.61 and a 200-day moving average price of $128.15.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter in the previous year, the firm posted $3.67 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

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

Steel Dynamics announced that its board has initiated a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

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.

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