Stifel Financial Corp Has $64.54 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Stifel Financial Corp lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 565,765 shares of the basic materials company’s stock after selling 10,822 shares during the period. Stifel Financial Corp owned about 0.37% of Steel Dynamics worth $64,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Barclays PLC grew its stake in Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after purchasing an additional 80,262 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $15,880,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $25,000. Tidal Investments LLC increased its holdings in Steel Dynamics by 6.4% in the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock worth $3,330,000 after buying an additional 1,585 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Steel Dynamics in the third quarter worth approximately $650,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 3.4 %

STLD opened at $117.39 on Wednesday. The business has a 50 day moving average of $124.67 and a 200-day moving average of $128.23. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion during 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 period in the prior year, the firm earned $3.67 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current 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 outstanding 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 generally a sign that the company’s board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.70%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 31st. Steel Dynamics’s payout ratio is currently 20.41%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wolfe Research raised 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 report on Monday, March 24th. BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $135.00 to $145.00 in a report on Monday, March 31st. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.11.

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.