Stifel Financial Corp Sells 10,822 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Stifel Financial Corp lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 565,765 shares of the basic materials company's stock after selling 10,822 shares during the period. Stifel Financial Corp owned approximately 0.37% of Steel Dynamics worth $64,537,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. Atomi Financial Group Inc. boosted its position in Steel Dynamics by 5.0% during the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock valued at $220,000 after purchasing an additional 91 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in Steel Dynamics by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $366,000 after acquiring an additional 101 shares during the last quarter. OneAscent Financial Services LLC boosted its holdings in Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock valued at $527,000 after purchasing an additional 101 shares during the period. Center For Asset Management LLC grew its holdings in shares of Steel Dynamics by 3.6% during the 4th quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company's stock worth $371,000 after purchasing an additional 113 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its stake in Steel Dynamics by 6.2% in the fourth quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock valued at $232,000 after purchasing an additional 118 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Down 0.0 %

Shares of Steel Dynamics stock traded down $0.04 on Friday, hitting $127.34. The stock had a trading volume of 774,474 shares, compared to its average volume of 1,501,398. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The stock has a 50 day moving average of $124.00 and a 200 day moving average of $128.17. The firm has a market capitalization of $19.09 billion, a P/E ratio of 12.99, a PEG ratio of 1.05 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate 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 company earned $3.67 EPS. Sell-side analysts expect 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 repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, March 31st. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio is 20.41%.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STLD has been the subject of several analyst reports. Wolfe Research upgraded shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. StockNews.com upgraded Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, Morgan Stanley set a $140.00 price objective on Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.44.

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.