Glenn Pushis Sells 17,941 Shares of Steel Dynamics, Inc. (NASDAQ:STLD) Stock

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

Steel Dynamics Price Performance

Steel Dynamics stock traded down $3.64 during trading hours on Monday, reaching $132.93. 521,993 shares of the stock were exchanged, compared to its average volume of 1,263,657. Steel Dynamics, Inc. has a twelve month low of $98.32 and a twelve month high of $151.34. The company has a market cap of $20.51 billion, a P/E ratio of 12.36 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $120.79 and a two-hundred day moving average of $127.37.

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 analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.47 EPS. Equities analysts expect that Steel Dynamics, Inc. will post 10.12 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its stake in shares of 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 worth $42,461,000 after acquiring an additional 272,226 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Steel Dynamics by 65.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after buying an additional 225,832 shares during the period. Swedbank AB acquired a new position in Steel Dynamics in the first quarter valued at $32,178,000. Acadian Asset Management LLC grew its holdings in Steel Dynamics by 21.6% during 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 period. Finally, Renaissance Technologies LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at about $24,670,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price 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.