Aigen Investment Management LP Invests $379,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Aigen Investment Management LP acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,009 shares of the basic materials company’s stock, valued at approximately $379,000.

A number of other large investors also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its holdings in Steel Dynamics by 5.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,938 shares of the basic materials company’s stock valued at $436,000 after purchasing an additional 153 shares during the last quarter. Sei Investments Co. grew its stake in shares of Steel Dynamics by 6.1% in the first quarter. Sei Investments Co. now owns 108,112 shares of the basic materials company’s stock valued at $16,026,000 after buying an additional 6,263 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Steel Dynamics by 11.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,466 shares of the basic materials company’s stock valued at $514,000 after buying an additional 365 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Steel Dynamics by 18.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 175,800 shares of the basic materials company’s stock worth $26,059,000 after acquiring an additional 27,301 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Steel Dynamics by 7.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,039 shares of the basic materials company’s stock valued at $1,340,000 after acquiring an additional 623 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on STLD shares. BMO Capital Markets lifted 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. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares in the company, valued at $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 available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock worth $3,608,438 over the last ninety days. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $137.81 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a 50-day simple moving average of $128.41 and a 200-day simple moving average of $127.08. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping 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 business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Steel Dynamics, Inc. will post 10.18 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

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.