Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez Sells 6,650 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Steel Dynamics Stock Down 0.9 %

STLD stock traded down $1.29 on Wednesday, reaching $143.06. 515,536 shares of the company traded hands, compared to its average volume of 1,264,526. The firm has a fifty day simple moving average of $127.31 and a 200-day simple moving average of $126.90. The company has a market cap of $21.78 billion, a P/E ratio of 12.95 and a beta of 1.31. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly 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. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.47 EPS. Research analysts anticipate that Steel Dynamics, Inc. will post 10.18 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently added to or reduced their stakes in STLD. Commerce Bank increased its holdings in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after buying an additional 73 shares in the last quarter. Csenge Advisory Group grew its stake in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the period. Covestor Ltd raised its holdings in shares of Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 93 shares during the last quarter. Dorsey Wright & Associates lifted its position in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares during the period. Finally, Greenleaf Trust boosted its holdings in Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 96 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. 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, October 18th. Bank of America upgraded shares of 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. BMO Capital Markets upped their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.