Cornerstone Wealth Group LLC Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Cornerstone Wealth Group LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,868 shares of the basic materials company’s stock after buying an additional 1,119 shares during the period. Cornerstone Wealth Group LLC’s holdings in Steel Dynamics were worth $2,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $28,000. Private Trust Co. NA raised its holdings in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group acquired a new position in Steel Dynamics during the third quarter valued at approximately $61,000. Finally, Quest Partners LLC purchased a new stake in Steel Dynamics during the third quarter worth approximately $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $145.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $143.38.

Steel Dynamics Trading Down 0.0 %

STLD opened at $122.35 on Monday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a market capitalization of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36. The firm’s fifty day moving average price is $127.27 and its 200 day moving average price is $126.38.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter last year, the business posted $2.61 earnings per share. As a group, research analysts expect that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.50%. Steel Dynamics’s dividend payout ratio (DPR) is 18.78%.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics 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.