Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 50.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,945 shares of the basic materials company’s stock after selling 22,212 shares during the quarter. Yousif Capital Management LLC’s holdings in Steel Dynamics were worth $2,592,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in shares of Steel Dynamics by 165.4% during the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after purchasing an additional 1,255,751 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Steel Dynamics by 105.7% during the third quarter. Assetmark Inc. now owns 789,836 shares of the basic materials company’s stock valued at $84,686,000 after acquiring an additional 405,836 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $38,644,000. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 29.0% in the third quarter. Nordea Investment Management AB now owns 997,827 shares of the basic materials company’s stock worth $106,139,000 after acquiring an additional 224,226 shares during the last quarter. Finally, ING Groep NV increased its position in shares of Steel Dynamics by 832.8% during the third quarter. ING Groep NV now owns 213,975 shares of the basic materials company’s stock worth $22,942,000 after purchasing an additional 191,036 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.8 %

Shares of STLD opened at $135.07 on Tuesday. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The firm has a market capitalization of $21.33 billion, a P/E ratio of 9.28 and a beta of 1.42. The firm has a 50-day moving average price of $137.63 and a 200 day moving average price of $122.66. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.01 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 12.31 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.36%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on STLD shares. BMO Capital Markets raised their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. UBS Group cut their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Citigroup boosted their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $121.17.

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.