Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells 17,941 Shares of Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Steel Dynamics Trading Down 2.7 %

Shares of STLD stock traded down $3.64 during mid-day trading on Monday, reaching $132.93. The stock had a trading volume of 521,993 shares, compared to its average volume of 1,263,657. The company has a current ratio of 2.39, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52-week low of $98.32 and a 52-week high of $151.34. The firm has a market capitalization of $20.51 billion, a PE ratio of 12.36 and a beta of 1.31. The stock’s 50-day moving average price is $120.79 and its two-hundred day moving average price is $127.37.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 EPS. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. Equities analysts expect that Steel Dynamics, Inc. will post 10.12 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Analysts Set New Price Targets

A number of research firms recently weighed in on STLD. BMO Capital Markets upped their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday. Morgan Stanley lowered their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average price target of $144.29.

Institutional Investors Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its holdings in Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after purchasing an additional 272,226 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Swedbank AB purchased a new position in shares of Steel Dynamics during the first quarter valued at about $32,178,000. Acadian Asset Management LLC increased its holdings in shares of Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after purchasing an additional 202,312 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Steel Dynamics during the second quarter valued at approximately $24,670,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

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.