Financial Enhancement Group LLC Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Financial Enhancement Group LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,823 shares of the basic materials company’s stock, valued at approximately $225,000.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA grew its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics during the third quarter worth about $61,000. Finally, Quest Partners LLC acquired a new position in shares of Steel Dynamics in the third quarter worth about $62,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 1.3 %

STLD stock opened at $125.18 on Thursday. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of 11.33 and a beta of 1.36. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The firm has a fifty day moving average price of $130.04 and a two-hundred day moving average price of $126.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.47 EPS. Research analysts predict that Steel Dynamics, Inc. will post 9.78 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders 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 dividend yield of 1.47%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STLD. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley reduced their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $141.13.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,591 shares of company stock valued at $3,885,938. Insiders own 6.10% of the company’s stock.

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.