Hanseatic Management Services Inc. Invests $27,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Hanseatic Management Services Inc. acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 323 shares of the basic materials company’s stock, valued at approximately $27,000.

A number of other hedge funds also recently made changes to their positions in the stock. Empirical Finance LLC raised its position in shares of Steel Dynamics by 0.8% during the fourth quarter. Empirical Finance LLC now owns 10,381 shares of the basic materials company’s stock worth $1,014,000 after acquiring an additional 82 shares during the last quarter. Wellington Shields & Co. LLC increased its holdings in Steel Dynamics by 50.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Security Financial Services INC. increased its holdings in Steel Dynamics by 2.4% in the first quarter. Security Financial Services INC. now owns 4,416 shares of the basic materials company’s stock worth $499,000 after purchasing an additional 103 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in Steel Dynamics by 2.0% in the fourth quarter. Regal Investment Advisors LLC now owns 5,255 shares of the basic materials company’s stock worth $513,000 after purchasing an additional 104 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Steel Dynamics by 82.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 105 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on STLD. BNP Paribas downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 target price for the company. in a report on Wednesday, July 5th. BMO Capital Markets lowered their target price on Steel Dynamics from $120.00 to $115.00 in a report on Monday, June 19th. Morgan Stanley lifted their target price on Steel Dynamics from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $94.00 to $95.00 and gave the company an “underweight” rating in a research note on Friday. Finally, StockNews.com assumed coverage on Steel Dynamics in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $108.56.

Steel Dynamics Stock Down 2.0 %

Shares of NASDAQ:STLD opened at $102.94 on Friday. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 6.00 and a beta of 1.51. The company has a quick ratio of 2.47, a current ratio of 4.20 and a debt-to-equity ratio of 0.35. Steel Dynamics, Inc. has a 12-month low of $69.12 and a 12-month high of $136.46. The business’s 50 day moving average is $105.04 and its 200 day moving average is $106.06.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.01). Steel Dynamics had a return on equity of 40.44% and a net margin of 14.66%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm posted $6.73 EPS. The firm’s revenue for the quarter was down 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 15.8 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.65%. Steel Dynamics’s dividend payout ratio is presently 9.91%.

Insider Activity

In other news, Director Gabriel Shaheen sold 1,717 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total transaction of $181,658.60. Following the transaction, the director now owns 83,074 shares of the company’s stock, valued at approximately $8,789,229.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gabriel Shaheen sold 1,717 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total transaction of $181,658.60. Following the transaction, the director now owns 83,074 shares of the company’s stock, valued at approximately $8,789,229.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher A. Graham sold 48,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total value of $5,041,440.00. Following the transaction, the senior vice president now directly owns 61,353 shares in the company, valued at approximately $6,443,905.59. The disclosure for this sale can be found here. 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. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.