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

Key Points

• Westover Capital Advisors LLC reduced its stake in Steel Dynamics, Inc. by 52.3%, selling 5,661 shares in the first quarter, leaving them with 5,155 shares worth $645,000.
• Steel Dynamics reported a quarterly EPS of $2.01, missing estimates by ($0.04), and experienced a 1.5% decrease in revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.58% with a payout ratio of 29.15%.

Westover Capital Advisors LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,155 shares of the basic materials company's stock after selling 5,661 shares during the quarter. Westover Capital Advisors LLC's holdings in Steel Dynamics were worth $645,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management lifted its stake in shares of Steel Dynamics by 24.4% in the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after purchasing an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Steel Dynamics by 10.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock valued at $190,000 after acquiring an additional 145 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in Steel Dynamics by 63.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company's stock valued at $839,000 after acquiring an additional 2,854 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Steel Dynamics by 31.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after acquiring an additional 6,604 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Steel Dynamics during the 4th quarter valued at $16,495,000. 82.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director directly owned 81,812 shares in the company, valued at $10,971,807.32. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president owned 125,319 shares in the company, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Steel Dynamics Stock Up 3.2%

Shares of STLD traded up $4.00 during trading hours on Friday, hitting $130.83. The company had a trading volume of 1,031,232 shares, compared to its average volume of 1,284,208. The company has a market capitalization of $19.42 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. The company has a current ratio of 3.13, a quick ratio of 1.38 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company's fifty day moving average price is $131.27 and its two-hundred day moving average price is $128.05.

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

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's payout ratio is 29.15%.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $135.00 to $145.00 in a report on Monday, March 31st. Morgan Stanley boosted their price objective on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $149.33.

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.