Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $277,500.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP Richard A. Poinsatte sold 2,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company's stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Steel Dynamics Trading Down 0.3 %

NASDAQ:STLD traded down $0.45 during mid-day trading on Tuesday, reaching $140.24. The company's stock had a trading volume of 1,574,202 shares, compared to its average volume of 1,269,869. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company's fifty day simple moving average is $130.21 and its two-hundred day simple moving average is $127.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a market cap of $21.35 billion, a P/E ratio of 12.69 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is currently 16.65%.

Institutional Trading of Steel Dynamics

Institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Steel Dynamics during the second quarter worth approximately $33,000. Private Trust Co. NA boosted its position in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics in the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. raised its position in 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 period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics during the second quarter worth about $52,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley lowered 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 research report on Wednesday, September 18th. 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 report on Friday, October 18th. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $144.29.

Steel Dynamics Company Profile

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.