Steel Dynamics (NASDAQ:STLD) SVP Sells $2,687,000.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Steel Dynamics Stock Down 0.5%

Shares of NASDAQ STLD opened at $268.34 on Thursday. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $280.49. The company has a market capitalization of $38.83 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The firm’s 50-day moving average is $226.75 and its two-hundred day moving average is $195.23.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays assumed coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Citigroup upped their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.64.

Hedge Funds Weigh In On Steel Dynamics

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in Steel Dynamics by 14.6% during the first quarter. Parallel Advisors LLC now owns 2,106 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 268 shares during the period. NewEdge Advisors LLC raised its stake in Steel Dynamics by 15.2% during the first quarter. NewEdge Advisors LLC now owns 14,134 shares of the basic materials company’s stock worth $2,544,000 after purchasing an additional 1,865 shares during the period. Alpine Woods Capital Investors LLC raised its stake in Steel Dynamics by 10.3% during the first quarter. Alpine Woods Capital Investors LLC now owns 44,156 shares of the basic materials company’s stock worth $7,948,000 after purchasing an additional 4,117 shares during the period. Glenmede Trust Co. NA raised its stake in Steel Dynamics by 3.3% during the first quarter. Glenmede Trust Co. NA now owns 3,439 shares of the basic materials company’s stock worth $619,000 after purchasing an additional 109 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in Steel Dynamics during the first quarter worth approximately $425,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.