MFG Wealth Management Inc. Buys 141 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

MFG Wealth Management Inc. boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,862 shares of the basic materials company’s stock after buying an additional 141 shares during the period. MFG Wealth Management Inc.’s holdings in Steel Dynamics were worth $1,484,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of STLD. Grove Bank & Trust increased its stake in Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter worth about $39,000. Investment Management Corp VA ADV bought a new position in Steel Dynamics in the 4th quarter valued at about $40,000. Avalon Trust Co bought a new position in Steel Dynamics in the 4th quarter valued at about $42,000. Finally, Park Square Financial Group LLC acquired a new position in Steel Dynamics during the 4th quarter valued at about $45,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $128.48 on Thursday. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $129.70 and a two-hundred day simple moving average of $126.09. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the firm posted $3.67 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. Steel Dynamics’s payout ratio is 26.42%.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 7,495 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president now directly owns 125,319 shares in the company, valued at $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now directly owns 81,812 shares in the company, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STLD. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Finally, Wall Street Zen downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $148.00.

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.