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

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $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 can be accessed through this link.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $133.45 on Tuesday. Steel Dynamics, Inc. has a one year low of $98.32 and a one year high of $151.34. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.07 and a beta of 1.31. The company has a 50-day simple moving average of $120.79 and a 200-day simple moving average of $127.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.39.

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, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the business earned $3.47 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Steel Dynamics, Inc. will post 10.12 EPS for the current year.

Steel Dynamics Dividend Announcement

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

Hedge Funds Weigh In On Steel Dynamics

Several institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics in the first quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Steel Dynamics in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Steel Dynamics in the 2nd quarter valued at approximately $41,000. Riverview Trust Co purchased a new stake in shares of Steel Dynamics in the first quarter valued at about $50,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.