MFA Wealth Services Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

MFA Wealth Services acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,383 shares of the basic materials company’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics during the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $28,000. Private Trust Co. NA raised its holdings 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 bought a new stake in Steel Dynamics in the third quarter valued at $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth about $62,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Down 0.4 %

Shares of Steel Dynamics stock opened at $122.37 on Friday. The company has a 50-day simple moving average of $127.61 and a two-hundred day simple moving average of $126.38. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock has a market capitalization of $18.63 billion, a PE ratio of 12.49 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period in the previous year, the company earned $2.61 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $0.46 dividend. 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 dividend payout ratio (DPR) is 18.78%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,650 shares of company stock worth $1,498,170. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on STLD shares. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Citigroup decreased their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $143.38.

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.