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

Knights of Columbus Asset Advisors LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 93.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares in the last quarter. Torren Management LLC acquired a new stake in Steel Dynamics during the fourth quarter worth about $34,000. Nvest Wealth Strategies Inc. acquired a new stake in Steel Dynamics during the fourth quarter worth about $42,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter worth about $45,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on STLD shares. Barclays started coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target for the company. Citigroup raised their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley restated an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and an average target price of $219.36.

Steel Dynamics Stock Up 3.1%

Shares of STLD opened at $258.22 on Thursday. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 0.53 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $259.91. The company has a 50-day moving average price of $207.16 and a two-hundred day moving average price of $187.22.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 EPS. Equities analysts predict that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Insider Transactions at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction 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. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,125 shares of company stock valued at $2,751,227. Corporate insiders own 6.60% of the company’s stock.

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.