J2 Capital Management Inc Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

J2 Capital Management Inc purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,593 shares of the basic materials company’s stock, valued at approximately $410,000.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Harbour Capital Advisors LLC grew its stake in Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after acquiring an additional 6,579 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at about $1,725,000. Larson Financial Group LLC grew its position in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter worth approximately $15,880,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on STLD shares. Citigroup dropped their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group cut their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. 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 note on Friday, October 18th. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $140.88.

Steel Dynamics Price Performance

STLD opened at $125.83 on Friday. The company has a 50 day moving average of $129.13 and a two-hundred day moving average of $126.45. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a market cap of $19.16 billion, a P/E ratio of 11.39 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company posted $3.47 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, analysts expect that Steel Dynamics, Inc. will post 9.78 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value 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 approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of the firm’s 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 owns 17,100 shares of the company’s stock, 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. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last 90 days. 6.10% of the stock is owned by corporate insiders.

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.