Yousif Capital Management LLC Decreases Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Yousif Capital Management LLC trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,735 shares of the basic materials company’s stock after selling 173 shares during the period. Yousif Capital Management LLC’s holdings in Steel Dynamics were worth $2,468,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Steel Dynamics by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock valued at $642,033,000 after acquiring an additional 451,630 shares during the period. Geode Capital Management LLC lifted its position in Steel Dynamics by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company’s stock valued at $419,697,000 after purchasing an additional 30,350 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Steel Dynamics by 29.4% during the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock valued at $409,816,000 after purchasing an additional 815,629 shares during the period. First Trust Advisors LP grew its holdings in shares of Steel Dynamics by 14.1% in the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock worth $362,636,000 after purchasing an additional 393,516 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Steel Dynamics in the fourth quarter worth $336,426,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director now directly owns 81,812 shares of the company’s stock, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 7,495 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares of the company’s stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on STLD shares. BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $135.00 to $145.00 in a research report on Monday, March 31st. Wall Street Zen cut Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research report on Monday, March 24th. Finally, Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.44.

Steel Dynamics Trading Up 1.2%

NASDAQ STLD opened at $133.48 on Friday. The firm has a market capitalization of $19.82 billion, a PE ratio of 13.62, a P/E/G ratio of 1.05 and a beta of 1.38. The stock’s 50 day moving average is $127.95 and its 200 day moving average is $126.68. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the business posted $3.67 EPS. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its Board of Directors has approved a stock buyback plan on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. Steel Dynamics’s payout ratio is 26.42%.

Steel Dynamics 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.