LSV Asset Management Cuts Stock Holdings in Steel Dynamics, Inc. $STLD

LSV Asset Management lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 20.0% during the fourth quarter, Holdings Channel reports. The fund owned 777,838 shares of the basic materials company’s stock after selling 194,647 shares during the period. LSV Asset Management’s holdings in Steel Dynamics were worth $131,805,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of STLD. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares during the period. Sound Income Strategies LLC increased its position in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares during the period. Torren Management LLC acquired a new position in shares of Steel Dynamics during the fourth quarter worth $34,000. Covestor Ltd grew its stake in shares of Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of Steel Dynamics during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $240.03 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $202.58 and a 200 day moving average price of $184.97. The company has a market cap of $34.74 billion, a P/E ratio of 25.67, a PEG ratio of 0.51 and a beta of 1.48. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $243.73.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The business’s revenue was up 19.1% on a year-over-year basis. Sell-side analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Morgan Stanley reiterated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a research note on Tuesday, March 17th. Citigroup boosted their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. KeyCorp boosted their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.36.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares of the company’s stock, valued at $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,125 shares of company stock worth $2,751,227 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.