J2 Capital Management Inc Purchases New Shares in Steel Dynamics, Inc. (NASDAQ:STLD)

J2 Capital Management Inc acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,593 shares of the basic materials company's stock, valued at approximately $410,000.

Several other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Steel Dynamics by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company's stock valued at $29,904,000 after acquiring an additional 19,853 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Steel Dynamics by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 19,487 shares of the basic materials company's stock worth $2,524,000 after acquiring an additional 1,792 shares during the period. Edgestream Partners L.P. purchased a new position in Steel Dynamics in the second quarter valued at about $1,498,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Steel Dynamics by 46.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,503 shares of the basic materials company's stock worth $8,976,000 after purchasing an additional 21,563 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Steel Dynamics by 11.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,271 shares of the basic materials company's stock worth $2,496,000 after purchasing an additional 1,902 shares during the period. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Trading Up 0.7 %

Shares of STLD traded up $0.83 during mid-day trading on Friday, reaching $125.83. The company's stock had a trading volume of 1,359,763 shares, compared to its average volume of 1,395,611. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The stock has a market cap of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The company's fifty day moving average price is $129.13 and its two-hundred day moving average price is $126.44. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $3.47 earnings per share. The company's revenue was down 5.4% on a year-over-year basis. On average, analysts predict that Steel Dynamics, Inc. will post 9.78 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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

Insider Activity

In other news, SVP Miguel Alvarez sold 6,650 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STLD has been the subject of several research reports. Citigroup reduced 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. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Jefferies Financial Group reduced 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. Finally, The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $140.88.

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.