Kinsale Capital Group Inc. Has $9.10 Million Stock Position in Steel Dynamics, Inc. $STLD

Kinsale Capital Group Inc. boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.2% during the 1st quarter, Holdings Channel reports. The fund owned 50,558 shares of the basic materials company’s stock after buying an additional 2,482 shares during the period. Kinsale Capital Group Inc.’s holdings in Steel Dynamics were worth $9,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STLD. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. bought a new position in shares of Steel Dynamics in the 4th quarter worth $27,000. Sound Income Strategies LLC lifted its holdings in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in Steel Dynamics in the 1st quarter valued at $31,000. Finally, DV Equities LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at $33,000. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. KeyCorp boosted their target price on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, Bank of America dropped their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.18.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Trading Up 0.2%

Shares of Steel Dynamics stock opened at $235.51 on Friday. The company has a market capitalization of $34.08 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The stock has a fifty day simple moving average of $245.95 and a 200 day simple moving average of $208.80. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 16.92 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a dividend of $0.53 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is 22.67%.

About Steel Dynamics

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.