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 Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,721 shares of the basic materials company’s stock, valued at approximately $1,337,000.

Several other large investors have also recently made changes to their positions in the business. Harbour Capital Advisors LLC grew its position in Steel Dynamics by 133.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 6,579 shares during the period. Oak Thistle LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $1,725,000. Foster & Motley Inc. grew its position in shares of Steel Dynamics by 8.0% during the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after acquiring an additional 2,602 shares during the period. Larson Financial Group LLC increased its stake in shares of Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake 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 worth $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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on STLD shares. The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a report on Tuesday. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $146.22.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Trading Down 1.9 %

Shares of Steel Dynamics stock opened at $132.30 on Thursday. The company’s 50-day moving average price is $123.50 and its 200-day moving average price is $126.40. The company has a market cap of $20.14 billion, a price-to-earnings ratio of 13.50 and a beta of 1.35. 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 posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $2.61 earnings per share. On average, equities analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

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.