Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) EVP Barry Schneider sold 50,000 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $248.91, for a total transaction of $12,445,500.00. Following the completion of the sale, the executive vice president directly owned 196,399 shares in the company, valued at $48,885,675.09. This trade represents a 20.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Steel Dynamics Stock Down 3.0%
Shares of STLD opened at $240.12 on Thursday. Steel Dynamics, Inc. has a 12 month low of $150.03 and a 12 month high of $288.74. The stock has a market cap of $34.15 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.35 and a beta of 1.45. The company has a 50-day moving average price of $238.91 and a two-hundred day moving average price of $224.40. The company has a quick ratio of 1.48, a current ratio of 3.14 and a debt-to-equity ratio of 0.43.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The basic materials company reported $5.26 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.22). Steel Dynamics had a net margin of 8.82% and a return on equity of 21.57%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter last year, the company earned $2.74 earnings per share. The business's revenue was up 34.8% on a year-over-year basis. Equities analysts predict that Steel Dynamics, Inc. will post 18.12 EPS for the current fiscal year.
Steel Dynamics Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics's dividend payout ratio is currently 15.65%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kinsale Capital Group Inc. raised its holdings in Steel Dynamics by 19.9% during the 3rd quarter. Kinsale Capital Group Inc. now owns 67,445 shares of the basic materials company's stock worth $14,946,000 after buying an additional 11,187 shares during the period. M&G PLC raised its position in Steel Dynamics by 1.8% in the 3rd quarter. M&G PLC now owns 22,564 shares of the basic materials company's stock valued at $5,009,000 after buying an additional 390 shares during the last quarter. AlphaCore Capital LLC lifted its stake in Steel Dynamics by 257.1% in the 3rd quarter. AlphaCore Capital LLC now owns 4,967 shares of the basic materials company's stock valued at $1,102,000 after acquiring an additional 3,576 shares in the last quarter. Fulcrum Asset Management LLP boosted its position in Steel Dynamics by 7,200.0% during the 3rd quarter. Fulcrum Asset Management LLP now owns 730 shares of the basic materials company's stock worth $162,000 after acquiring an additional 720 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Steel Dynamics by 7.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,568 shares of the basic materials company's stock valued at $1,712,000 after purchasing an additional 496 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. UBS Group increased their price objective on Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. BNP Paribas Exane boosted their price objective on Steel Dynamics from $275.00 to $276.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $299.00 target price (down from $301.00) on shares of Steel Dynamics in a research note on Tuesday, October 20th. BMO Capital Markets dropped their price target on shares of Steel Dynamics from $296.00 to $290.00 and set an "outperform" rating for the company in a research note on Tuesday, September 29th. Finally, KeyCorp raised their price objective on shares of Steel Dynamics from $262.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, October 23rd. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $275.17.
Read Our Latest Stock Analysis on Steel Dynamics
About Steel Dynamics
(
Get Free Report)
Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.
Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.
The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
