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Steel Dynamics, Inc. (NASDAQ:STLD) Short Interest Update

Steel Dynamics logo with Basic Materials background

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,750,000 shares, an increase of 24.2% from the December 15th total of 3,020,000 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is currently 2.6 days.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares of the company's stock, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,591 shares of company stock worth $3,885,938. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of STLD. MassMutual Private Wealth & Trust FSB grew its stake in Steel Dynamics by 38.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 541 shares of the basic materials company's stock worth $62,000 after purchasing an additional 150 shares in the last quarter. Annex Advisory Services LLC increased its stake in shares of Steel Dynamics by 7.5% during the fourth quarter. Annex Advisory Services LLC now owns 2,150 shares of the basic materials company's stock valued at $245,000 after buying an additional 150 shares during the period. J2 Capital Management Inc bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $410,000. HB Wealth Management LLC boosted its stake in shares of Steel Dynamics by 9.0% during the fourth quarter. HB Wealth Management LLC now owns 3,367 shares of the basic materials company's stock valued at $384,000 after purchasing an additional 279 shares in the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Steel Dynamics by 6.9% in the 4th quarter. Merit Financial Group LLC now owns 12,458 shares of the basic materials company's stock valued at $1,421,000 after acquiring an additional 809 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and raised their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Jefferies Financial Group cut their price target on shares of Steel Dynamics from $145.00 to $125.00 and set a "hold" rating on the stock in a report on Monday, January 6th. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets lifted their price objective 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $141.13.

Read Our Latest Report on STLD

Steel Dynamics Price Performance

Shares of STLD stock traded down $0.14 on Thursday, hitting $125.00. 875,198 shares of the stock traded hands, compared to its average volume of 1,715,710. The firm has a 50 day simple moving average of $130.04 and a two-hundred day simple moving average of $126.49. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 11.31 and a beta of 1.36. Steel Dynamics has a 52 week low of $104.60 and a 52 week 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 - Get Free Report) last released 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 net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business earned $3.47 earnings per share. Steel Dynamics's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Steel Dynamics will post 9.78 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.47%. Steel Dynamics's dividend payout ratio (DPR) is 16.65%.

Steel Dynamics Company Profile

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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