Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $950,950.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $139.41 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a 50-day moving average of $128.98 and a 200-day moving average of $127.11. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a market cap of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business posted $3.47 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.32%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Institutional Investors Weigh In On Steel Dynamics

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after buying an additional 152,254 shares during the period. Holocene Advisors LP boosted its stake in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after acquiring an additional 1,060,007 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after acquiring an additional 140,042 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on STLD. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Morgan Stanley decreased their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $144.29.

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.