Bridgeway Capital Management LLC Sells 19,100 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Bridgeway Capital Management LLC lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,170 shares of the basic materials company's stock after selling 19,100 shares during the period. Bridgeway Capital Management LLC's holdings in Steel Dynamics were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $28,000. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $39,000. Avalon Trust Co acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Down 0.8%

Shares of STLD traded down $1.11 during mid-day trading on Tuesday, reaching $135.42. The company's stock had a trading volume of 1,588,345 shares, compared to its average volume of 1,505,734. The business has a fifty day moving average of $123.77 and a 200 day moving average of $128.16. The company has a market cap of $20.30 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the business earned $3.67 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is presently 26.42%.

Steel Dynamics announced that its Board of Directors has approved a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on STLD shares. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target for the company in a research report on Monday, March 24th. Morgan Stanley set a $140.00 price objective on Steel Dynamics and gave the company an "overweight" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. One investment 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. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Company 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.