Key Points
- Steel Dynamics SVP Richard Poinsatte sold 2,300 shares on May 12 at an average price of $234.11, totaling about $538,453. After the sale, he still held 28,618 shares worth roughly $6.7 million.
- The stock has been trading near its highs, recently opening at $234.68 versus a 12-month range of $119.89 to $243.73. It also trades above both its 50-day and 200-day moving averages.
- Steel Dynamics recently reported mixed quarterly results, missing EPS and revenue estimates slightly even as revenue rose 19.1% year over year. The company also declared a quarterly dividend of $0.53 per share, payable July 10.
Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP Richard Poinsatte sold 2,300 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% 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 hyperlink.
Steel Dynamics Price Performance
STLD stock opened at $234.68 on Friday. The firm has a 50 day moving average of $197.24 and a 200-day moving average of $182.16. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $243.73. The firm has a market capitalization of $33.96 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company posted $1.44 EPS. The business's revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.
Steel Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is 22.67%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Morgan Stanley restated an "underperform" rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Tuesday, March 17th. BMO Capital Markets lifted their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Bank of America lowered Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective for the company. in a report on Thursday, April 30th. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a "neutral" rating in a research note on Tuesday, April 14th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of "Hold" and an average target price of $214.30.
Read Our Latest Stock Analysis on Steel Dynamics
Institutional Trading of Steel Dynamics
Several hedge funds and other institutional investors have recently bought and sold shares of STLD. Capital Research Global Investors grew its position in Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company's stock valued at $613,926,000 after acquiring an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $586,702,000. Norges Bank purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $564,590,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock valued at $340,289,000 after purchasing an additional 72,122 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock valued at $332,985,000 after purchasing an additional 116,379 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.
Steel Dynamics Company Profile
(
Get Free Report)
Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.
The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.
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