Cornerstone Wealth Group LLC Purchases 2,475 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Cornerstone Wealth Group LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,343 shares of the basic materials company's stock after purchasing an additional 2,475 shares during the period. Cornerstone Wealth Group LLC's holdings in Steel Dynamics were worth $3,420,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new position in Steel Dynamics during the fourth quarter worth about $336,426,000. Capital Research Global Investors raised its holdings in shares of Steel Dynamics by 29.4% in the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after buying an additional 815,629 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Steel Dynamics by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock worth $642,033,000 after buying an additional 451,630 shares during the period. GAMMA Investing LLC boosted its stake in Steel Dynamics by 18,398.4% in the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock valued at $55,993,000 after buying an additional 445,241 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Steel Dynamics by 14.1% in the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock valued at $362,636,000 after acquiring an additional 393,516 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STLD. Morgan Stanley boosted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target for the company in a report on Monday, March 24th. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $148.00.

Steel Dynamics Stock Down 0.2%

NASDAQ STLD opened at $131.21 on Friday. The stock has a market capitalization of $19.48 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The stock has a fifty day moving average of $130.23 and a 200-day moving average of $126.02.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same quarter last year, the business earned $3.67 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

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

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president now owns 125,319 shares in the company, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director now owns 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Company 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.