Golden State Wealth Management LLC Acquires New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 423 shares of the basic materials company’s stock, valued at approximately $48,000.

A number of other large investors have also recently modified their holdings of the business. Harbour Capital Advisors LLC lifted its position in shares of Steel Dynamics by 133.7% during the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after buying an additional 6,579 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $1,725,000. Foster & Motley Inc. boosted its stake in shares of Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after purchasing an additional 2,602 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Steel Dynamics by 9,465.5% during the 3rd 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. Finally, Nordea Investment Management AB increased its position in 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. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Citigroup dropped their target price 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 upgraded Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $146.22.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $134.86 on Wednesday. The stock’s 50 day moving average is $123.68 and its 200 day moving average is $126.36. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The firm has a market cap of $20.53 billion, a P/E ratio of 13.76 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.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $2.61 earnings per share. As a group, research analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

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.