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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of STLD. GAMMA Investing LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth $177,000. Wedge Capital Management L L P NC lifted its stake in shares of Steel Dynamics by 13.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 61,236 shares of the basic materials company’s stock worth $7,232,000 after purchasing an additional 7,272 shares during the period. Foster & Motley Inc. boosted its holdings in shares of Steel Dynamics by 7.0% in the fourth quarter. Foster & Motley Inc. now owns 27,490 shares of the basic materials company’s stock worth $3,247,000 after buying an additional 1,793 shares during the last quarter. Duality Advisers LP bought a new stake in shares of Steel Dynamics during the 4th quarter valued at $1,034,000. Finally, CWM LLC grew its holdings in Steel Dynamics by 5.0% during the fourth quarter. CWM LLC now owns 4,274 shares of the basic materials company’s stock valued at $505,000 after purchasing an additional 205 shares during the period. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on STLD. UBS Group cut their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Citigroup increased their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. 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 research report on Monday, March 18th. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Trading Up 0.8 %

STLD opened at $135.07 on Tuesday. The stock has a 50-day moving average of $137.63 and a 200 day moving average 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, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The firm has a market cap of $21.33 billion, a P/E ratio of 9.28 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) 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 analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company earned $4.01 EPS. As a group, research analysts forecast that Steel Dynamics, Inc. will post 12.31 EPS for the current year.

Steel Dynamics Increases Dividend

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

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.