MFG Wealth Management Inc. Makes New $1.34 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

MFG Wealth Management Inc. acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,721 shares of the basic materials company’s stock, valued at approximately $1,337,000.

A number of other large investors also recently modified their holdings of STLD. Harbour Capital Advisors LLC boosted its stake in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after buying an additional 6,579 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $1,725,000. Foster & Motley Inc. lifted its holdings in shares of Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock worth $4,027,000 after acquiring an additional 2,602 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Steel Dynamics by 9,465.5% in the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the 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 owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

STLD opened at $132.30 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock has a market capitalization of $20.14 billion, a PE ratio of 13.50 and a beta of 1.35. The stock’s 50 day moving average price is $123.50 and its 200-day moving average price is $126.40. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the company earned $2.61 EPS. On average, equities research analysts predict that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research note on Tuesday. UBS Group restated 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. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup cut their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $146.22.

About Steel Dynamics

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.