Mizuho Securities USA LLC Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Steel Dynamics, Inc. by 15.5%, bringing its total shares to 11,337, valued at approximately $1.4 million.
• Steel Dynamics reported quarterly earnings of $2.01 per share, missing estimates, with revenues of $4.57 billion, down 1.5% year-over-year.
• Several institutional investors, including Price T Rowe Associates and Capital Research Global Investors, have increased their stakes in Steel Dynamics significantly during recent quarters.

Mizuho Securities USA LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,337 shares of the basic materials company's stock after selling 2,082 shares during the period. Mizuho Securities USA LLC's holdings in Steel Dynamics were worth $1,418,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STLD. Victory Capital Management Inc. lifted its stake in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock worth $227,211,000 after purchasing an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Steel Dynamics by 531.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock valued at $149,054,000 after buying an additional 1,002,813 shares during the last quarter. Capital Research Global Investors raised its position in Steel Dynamics by 29.4% in the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after acquiring an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Steel Dynamics by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock worth $642,033,000 after acquiring an additional 451,630 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Steel Dynamics by 18,398.4% in the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock worth $55,993,000 after purchasing an additional 445,241 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insiders Place Their Bets

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares of the company's stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,749 shares of company stock valued at $2,702,468 over the last 90 days. Insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a report on Thursday. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of "Moderate Buy" and an average target price of $148.70.

Steel Dynamics Price Performance

Shares of STLD stock traded down $1.06 during trading hours on Friday, hitting $126.42. The stock had a trading volume of 1,016,505 shares, compared to its average volume of 1,626,946. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.05 and a beta of 1.38. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The stock's 50-day moving average price is $129.77 and its two-hundred day moving average price is $128.24.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the company posted $2.72 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.6%. Steel Dynamics's dividend payout ratio (DPR) is presently 29.15%.

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.