Hager Investment Management Services LLC Makes New $72,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Hager Investment Management Services LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 635 shares of the basic materials company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also modified their holdings of the company. E. Ohman J or Asset Management AB raised its holdings in Steel Dynamics by 18.2% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,500 shares of the basic materials company’s stock valued at $741,000 after buying an additional 1,000 shares in the last quarter. Columbus Macro LLC raised its stake in shares of Steel Dynamics by 31.5% in the 4th quarter. Columbus Macro LLC now owns 2,271 shares of the basic materials company’s stock valued at $259,000 after acquiring an additional 544 shares in the last quarter. Optas LLC bought a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $204,000. Resonant Capital Advisors LLC lifted its holdings in Steel Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock worth $366,000 after purchasing an additional 101 shares during the last quarter. Finally, Greenleaf Trust boosted its position in Steel Dynamics by 2.9% during the fourth quarter. Greenleaf Trust now owns 4,754 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STLD. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley upped their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $145.13.

Steel Dynamics Trading Up 2.4 %

Steel Dynamics stock opened at $129.42 on Thursday. The business has a 50 day moving average price of $124.76 and a two-hundred day moving average price of $126.26. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock has a market cap of $19.70 billion, a price-to-earnings ratio of 13.21 and a beta of 1.35.

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 analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the business earned $2.61 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is currently 18.78%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction 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 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 disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

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.