Kinsale Capital Group Inc. Takes Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Kinsale Capital Group Inc. purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,992 shares of the basic materials company’s stock, valued at approximately $1,824,000.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $28,000. Private Trust Co. NA increased its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group purchased a new stake in Steel Dynamics during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Citigroup reduced their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report 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 objective for the company. Finally, StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $146.22.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Up 1.3 %

Steel Dynamics stock opened at $135.07 on Friday. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.05 and a beta of 1.35. The stock has a fifty day simple moving average of $125.39 and a two-hundred day simple moving average of $127.37. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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 return on equity of 17.32% and a net margin of 8.76%. During the same period in the previous year, the company earned $2.61 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is 20.41%.

Steel Dynamics declared that its board has initiated a share buyback program on Monday, February 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.