Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) VP Sells 2,000 Shares of Stock

Steel Dynamics, Inc. (NASDAQ:STLD) VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Steel Dynamics Trading Down 0.4 %

Steel Dynamics stock opened at $135.16 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 1 year low of $102.86 and a 1 year high of $151.34. The firm’s 50-day moving average is $122.98 and its 200-day moving average is $126.57. The company has a market cap of $20.86 billion, a P/E ratio of 12.23 and a beta of 1.31.

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 firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $3.47 earnings per share. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently added to or reduced their stakes in STLD. Brookstone Capital Management increased its holdings in shares of Steel Dynamics by 4.1% in the 1st quarter. Brookstone Capital Management now owns 2,740 shares of the basic materials company’s stock worth $406,000 after acquiring an additional 109 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Steel Dynamics by 4.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,487 shares of the basic materials company’s stock worth $4,519,000 after buying an additional 1,364 shares during the period. Diversified Trust Co grew its holdings in Steel Dynamics by 316.4% in the 1st quarter. Diversified Trust Co now owns 21,899 shares of the basic materials company’s stock worth $3,246,000 after buying an additional 16,640 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Steel Dynamics by 56.5% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 35,844 shares of the basic materials company’s stock worth $5,313,000 after buying an additional 12,941 shares in the last quarter. Finally, MV Capital Management Inc. increased its position in Steel Dynamics by 53.7% in the 1st quarter. MV Capital Management Inc. now owns 1,720 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 601 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

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.