MFG Wealth Management Inc. Makes New $1.34 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

MFG Wealth Management Inc. acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,721 shares of the basic materials company's stock, valued at approximately $1,337,000.

A number of other large investors also recently modified their holdings of the company. TFB Advisors LLC boosted its holdings in shares of Steel Dynamics by 3.5% in the 4th quarter. TFB Advisors LLC now owns 4,069 shares of the basic materials company's stock valued at $464,000 after buying an additional 137 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of Steel Dynamics by 14.6% in the 4th quarter. Savant Capital LLC now owns 3,034 shares of the basic materials company's stock valued at $346,000 after buying an additional 387 shares in the last quarter. Stiles Financial Services Inc boosted its holdings in shares of Steel Dynamics by 7.3% in the 4th quarter. Stiles Financial Services Inc now owns 21,182 shares of the basic materials company's stock valued at $2,417,000 after buying an additional 1,445 shares in the last quarter. Entropy Technologies LP boosted its holdings in shares of Steel Dynamics by 14.1% in the 4th quarter. Entropy Technologies LP now owns 19,851 shares of the basic materials company's stock valued at $2,264,000 after buying an additional 2,456 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Steel Dynamics by 9.8% in the 4th quarter. Empowered Funds LLC now owns 40,958 shares of the basic materials company's stock valued at $4,672,000 after buying an additional 3,672 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock traded up $2.95 during mid-day trading on Friday, hitting $135.83. The stock had a trading volume of 1,608,294 shares, compared to its average volume of 1,674,464. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm has a market cap of $20.68 billion, a PE ratio of 13.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The company's 50-day simple moving average is $123.36 and its 200-day simple moving average is $126.46.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter last year, the firm posted $2.61 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price for the company in a report on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $146.22.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company's stock.

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.