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 company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Steel Dynamics Stock Up 1.2 %

Shares of STLD opened at $139.41 on Friday. The stock’s 50-day moving average price is $128.98 and its two-hundred day moving average price is $127.11. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market capitalization of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

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, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for 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 firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.47 earnings per share. On average, analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on STLD shares. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Morgan Stanley lowered their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus target price of $144.29.

Hedge Funds Weigh In On Steel Dynamics

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