Koshinski Asset Management Inc. Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Koshinski Asset Management Inc. bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,646 shares of the basic materials company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Steel Dynamics during the 4th quarter valued at $336,426,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 531.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock valued at $149,054,000 after buying an additional 1,002,813 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Steel Dynamics by 29.4% in the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock valued at $409,816,000 after buying an additional 815,629 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Steel Dynamics by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock valued at $642,033,000 after buying an additional 451,630 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Steel Dynamics by 18,398.4% during the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company’s stock worth $55,993,000 after buying an additional 445,241 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STLD shares. BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. Morgan Stanley increased their price objective on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Wall Street Zen lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $131.97 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $19.59 billion, a P/E ratio of 17.43, a PEG ratio of 1.01 and a beta of 1.37. The business has a 50-day moving average of $131.09 and a 200-day moving average of $126.15. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the firm earned $3.67 EPS. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

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

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 7,495 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president directly owned 125,319 shares in the company, valued at $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the 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 owned 81,812 shares of the company’s stock, 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 owned by corporate 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.