2,383 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by MFA Wealth Services

MFA Wealth Services acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,383 shares of the basic materials company’s stock, valued at approximately $272,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA increased its position 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 worth $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Steel Dynamics in the third quarter valued at $61,000. Finally, Quest Partners LLC purchased a new position in shares of Steel Dynamics during the 3rd quarter valued at $62,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several recent research reports. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Citigroup dropped their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, UBS Group reiterated a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $143.38.

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,650 shares of company stock valued at $1,498,170. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $122.37 on Friday. The company has a market capitalization of $18.63 billion, a P/E ratio of 12.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a fifty day moving average of $127.61 and a 200-day moving average of $126.38.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 17.25% and a net margin of 8.76%. During the same period in the previous year, the firm earned $2.61 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

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.