Knights of Columbus Asset Advisors LLC Has $5.22 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Knights of Columbus Asset Advisors nearly doubled its stake in Steel Dynamics in the fourth quarter, increasing holdings by 93.3% to 30,808 shares worth about $5.22 million.
• Steel Dynamics continues to attract heavy institutional interest, with several hedge funds adding positions and institutions owning about 82.41% of the stock.
• The company recently reported quarterly results that slightly missed earnings and revenue estimates, but it also announced a $0.53 quarterly dividend and shares were trading near their 52-week high.

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 93.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,808 shares of the basic materials company's stock after buying an additional 14,873 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Steel Dynamics were worth $5,220,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of STLD. Life Cycle Investment Partners Ltd acquired a new position in Steel Dynamics during the fourth quarter worth $586,702,000. Boston Partners acquired a new position in Steel Dynamics during the third quarter worth $101,254,000. Qube Research & Technologies Ltd acquired a new position in Steel Dynamics during the second quarter worth $48,746,000. Caisse de depot et placement du Quebec increased its position in Steel Dynamics by 134.9% during the third quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company's stock worth $68,779,000 after buying an additional 283,300 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Steel Dynamics by 79.1% during the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company's stock worth $80,332,000 after buying an additional 277,166 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Miguel Alvarez sold 4,825 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were 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 in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,125 shares of company stock valued at $2,751,227. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STLD shares. BMO Capital Markets increased their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Morgan Stanley reissued an "underperform" rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Tuesday, March 17th. Barclays started coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They set an "overweight" rating and a $270.00 target price on the stock. Bank of America downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 target price on the stock. in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of "Moderate Buy" and a consensus price target of $219.36.

Steel Dynamics Trading Up 3.1%

Shares of NASDAQ:STLD opened at $258.22 on Thursday. The company has a market cap of $37.37 billion, a P/E ratio of 27.62, a P/E/G ratio of 0.53 and a beta of 1.48. The stock's 50-day moving average is $207.16 and its 200-day moving average is $187.22. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $259.91. 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 (NASDAQ:STLD - Get Free Report) last issued 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 analyst estimates 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 for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm 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 $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is currently 22.67%.

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.

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