Aigen Investment Management LP Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Aigen Investment Management LP purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to its most recent filing with the SEC. The firm purchased 3,009 shares of the basic materials company’s stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of STLD. Prime Capital Investment Advisors LLC grew its holdings in shares of Steel Dynamics by 2.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 99 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Steel Dynamics by 4.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,531 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 110 shares in the last quarter. Entropy Technologies LP grew its holdings in Steel Dynamics by 52.1% in the third quarter. Entropy Technologies LP now owns 17,395 shares of the basic materials company’s stock valued at $2,193,000 after purchasing an additional 5,958 shares during the last quarter. Laffer Tengler Investments Inc. increased its position in shares of Steel Dynamics by 2.0% in the third quarter. Laffer Tengler Investments Inc. now owns 52,657 shares of the basic materials company’s stock valued at $6,639,000 after buying an additional 1,050 shares in the last quarter. Finally, Addison Advisors LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $82,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock worth $3,608,438 over the last quarter. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Stock Down 2.9 %

STLD stock opened at $137.81 on Friday. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock has a market capitalization of $20.98 billion, a P/E ratio of 12.47 and a beta of 1.31. The company has a 50 day moving average price of $128.41 and a two-hundred day moving average price of $127.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm 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%. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 10.18 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on STLD shares. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $144.29.

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.