Kathmere Capital Management LLC Invests $248,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Kathmere Capital Management LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, HoldingsChannel reports. The fund acquired 1,673 shares of the basic materials company’s stock, valued at approximately $248,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC increased its holdings in Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the last quarter. Security National Bank purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $30,000. Finally, Riverview Trust Co purchased a new stake in Steel Dynamics during the first quarter valued at approximately $50,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $129.50 on Friday. The firm has a 50-day moving average price of $130.28 and a 200-day moving average price of $128.63. The firm has a market capitalization of $20.35 billion, a PE ratio of 8.89 and a beta of 1.40. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12-month low of $95.53 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $4.01 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 11.64 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s payout ratio is 12.64%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STLD. BMO Capital Markets reduced their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Bank of America reduced their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $129.63.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.00% of the stock is currently owned by company insiders.

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.