Counterpoint Mutual Funds LLC Invests $339,000 in Steel Dynamics, Inc. $STLD

Key Points

• Counterpoint Mutual Funds LLC has invested $339,000 in Steel Dynamics, acquiring 2,645 shares in the second quarter.
• Steel Dynamics has declared a quarterly dividend of $0.50 per share, with an ex-dividend date set for September 30th, contributing to an annual yield of 1.5%.
• Recent analyst upgrades include target price increases from JPMorgan Chase & Co. and Wells Fargo, with Steel Dynamics currently holding a consensus rating of "Moderate Buy" from analysts.

Counterpoint Mutual Funds LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,645 shares of the basic materials company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. Vise Technologies Inc. lifted its holdings in shares of Steel Dynamics by 11.7% during the 4th quarter. Vise Technologies Inc. now owns 1,872 shares of the basic materials company's stock worth $214,000 after acquiring an additional 196 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Steel Dynamics by 100.0% during the 4th quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company's stock worth $46,000 after acquiring an additional 200 shares during the period. Toronto Dominion Bank increased its position in shares of Steel Dynamics by 7.9% during the 4th quarter. Toronto Dominion Bank now owns 80,609 shares of the basic materials company's stock worth $9,195,000 after purchasing an additional 5,922 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Steel Dynamics by 28.4% during the 4th quarter. Mackenzie Financial Corp now owns 17,461 shares of the basic materials company's stock worth $1,992,000 after purchasing an additional 3,867 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Steel Dynamics during the 4th quarter worth about $10,786,000. 82.41% of the stock is owned by institutional investors.

Insider Activity at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Down 0.2%

Shares of NASDAQ STLD opened at $136.37 on Thursday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a market cap of $20.08 billion, a PE ratio of 19.88, a P/E/G ratio of 1.11 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $130.22 and a two-hundred day moving average of $128.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm posted $2.72 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Steel Dynamics's payout ratio is currently 29.15%.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Morgan Stanley increased their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Wells Fargo & Company increased their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.40.

About Steel Dynamics

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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