Steel Dynamics (NASDAQ:STLD) EVP Barry Schneider Sells 50,000 Shares of Stock

Steel Dynamics, Inc. (NASDAQ:STLD) EVP Barry Schneider sold 50,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $248.91, for a total transaction of $12,445,500.00. Following the transaction, the executive vice president directly owned 196,399 shares in the company, valued at approximately $48,885,675.09. The trade was a 20.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $240.12 on Thursday. The company has a 50-day moving average price of $238.91 and a 200 day moving average price of $224.40. Steel Dynamics, Inc. has a 12-month low of $150.03 and a 12-month high of $288.74. The company has a current ratio of 3.14, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a market cap of $34.15 billion, a P/E ratio of 17.72, a PEG ratio of 0.35 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, October 19th. The basic materials company reported $5.26 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.22). Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the previous year, the company posted $2.74 earnings per share. The company’s revenue was up 34.8% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 18.12 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were issued a $0.53 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 15.65%.

Hedge Funds Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baird Financial Group Inc. raised its holdings in Steel Dynamics by 9.9% in the 2nd quarter. Baird Financial Group Inc. now owns 187,906 shares of the basic materials company’s stock worth $43,117,000 after acquiring an additional 16,930 shares during the period. Sapient Capital LLC boosted its stake in Steel Dynamics by 34.6% during the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock valued at $102,958,000 after purchasing an additional 115,080 shares during the period. BlackRock Inc. bought a new stake in Steel Dynamics in the 2nd quarter valued at $2,844,501,000. Public Employees Retirement System of Ohio acquired a new stake in Steel Dynamics in the 2nd quarter worth $10,169,000. Finally, Nykredit A S bought a new position in shares of Steel Dynamics during the 2nd quarter worth about $8,596,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the subject of several recent analyst reports. BNP Paribas Exane boosted their target price on Steel Dynamics from $275.00 to $276.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. UBS Group boosted their price objective on Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Bank of America lowered their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group restated a “buy” rating and set a $299.00 price objective (down from $301.00) on shares of Steel Dynamics in a research report on Tuesday, October 20th. Finally, BMO Capital Markets lowered their price objective on Steel Dynamics from $296.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, September 29th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.17.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.