Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard A. Poinsatte Sells 2,000 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. 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 $145.54 on Friday. The firm has a 50 day simple moving average of $131.63 and a 200 day simple moving average of $127.42. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 13.17 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 posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $3.47 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STLD shares. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised 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. Morgan Stanley decreased 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 lifted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $144.29.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds have recently bought and sold shares of the company. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after acquiring an additional 272,226 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Swedbank AB purchased a new stake in Steel Dynamics during the 1st quarter valued at about $32,178,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Steel Dynamics in the second quarter worth approximately $24,670,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.