Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $277,500.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Steel Dynamics Stock Performance

Steel Dynamics stock traded down $0.68 during trading hours on Tuesday, hitting $140.01. 617,012 shares of the stock traded hands, compared to its average volume of 1,265,596. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. 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 $21.32 billion, a price-to-earnings ratio of 12.66 and a beta of 1.31. The firm’s 50 day moving average price is $129.58 and its 200-day moving average price is $127.14.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.47 earnings per share. As a group, equities analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.31%. Steel Dynamics’s payout ratio is currently 16.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on STLD. BMO Capital Markets boosted their price target 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. Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, UBS Group upgraded 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $144.29.

Institutional Trading of Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in STLD. Commerce Bank grew its position in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after acquiring an additional 73 shares during the period. Csenge Advisory Group lifted its position in Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after purchasing an additional 81 shares during the period. M&T Bank Corp lifted its stake in Steel Dynamics by 0.9% during the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares during the last quarter. Covestor Ltd increased its stake in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 93 shares in the last quarter. Finally, Dorsey Wright & Associates boosted its stake in Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after purchasing an additional 96 shares during the period. 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.