Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez Sells 6,650 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics 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 transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Steel Dynamics Price Performance

STLD stock traded down $1.29 during mid-day trading on Wednesday, hitting $143.06. 515,536 shares of the stock were exchanged, compared to its average volume of 1,264,526. 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 stock has a market capitalization of $21.78 billion, a price-to-earnings ratio of 12.95 and a beta of 1.31. The business has a fifty day moving average price of $127.31 and a 200 day moving average price of $126.90. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm earned $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.18 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.29%. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STLD. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley reduced their target price on 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. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.29.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its position in Steel Dynamics by 481.2% in the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after purchasing an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in 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 buying an additional 225,832 shares during the last quarter. Swedbank AB purchased a new stake in Steel Dynamics during the 1st quarter valued at $32,178,000. Acadian Asset Management LLC grew its holdings in Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after acquiring an additional 202,312 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at about $24,670,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

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.