Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $3,184,810.83 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded up $2.95 during trading on Friday, hitting $135.83. 1,608,294 shares of the company were exchanged, compared to its average volume of 1,674,464. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 13.86 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The firm's fifty day moving average price is $123.36 and its 200 day moving average price is $126.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the business earned $2.61 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Commerce Bank boosted its position in shares of 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. M&T Bank Corp raised its position in shares of Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company's stock worth $1,267,000 after purchasing an additional 88 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock worth $220,000 after purchasing an additional 91 shares during the last quarter. Covestor Ltd raised its position in shares of Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company's stock worth $120,000 after purchasing an additional 93 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of Steel Dynamics by 2.1% during the 3rd 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.

Analysts Set New Price Targets

STLD has been the topic of a number of recent research reports. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective on the stock. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Finally, Morgan Stanley lifted their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $146.22.

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.