Steel Dynamics (NASDAQ:STLD) SVP Sells $1,343,180.29 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Steel Dynamics Stock Down 0.9%

STLD stock opened at $156.80 on Friday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $164.73. The business has a fifty day moving average price of $141.10 and a 200-day moving average price of $133.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The stock has a market capitalization of $22.90 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.39 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is 26.49%.

Analysts Set New Price Targets

A number of analysts recently commented on STLD shares. UBS Group set a $158.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Wells Fargo & Company upped their price objective on Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. KeyCorp upped their price objective on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Jefferies Financial Group upped their price objective on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.33.

Institutional Trading of Steel Dynamics

Several hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 43.3% in the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after acquiring an additional 630,935 shares during the period. OFI Invest Asset Management bought a new position in shares of Steel Dynamics in the second quarter worth about $4,221,000. Geneos Wealth Management Inc. boosted its stake in shares of Steel Dynamics by 72.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,143 shares of the basic materials company’s stock worth $143,000 after acquiring an additional 480 shares during the period. Alpine Woods Capital Investors LLC boosted its stake in shares of Steel Dynamics by 10.4% in the second quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company’s stock worth $6,115,000 after acquiring an additional 4,489 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Steel Dynamics by 47.9% in the first quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after acquiring an additional 1,159 shares during the period. 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.