Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells 23,649 Shares of Stock

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

Steel Dynamics Trading Down 0.9 %

Steel Dynamics stock traded down $1.19 during midday trading on Wednesday, reaching $133.67. 1,204,652 shares of the stock traded hands, compared to its average volume of 1,807,233. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The firm has a market cap of $20.35 billion, a PE ratio of 13.64 and a beta of 1.35. The company has a 50-day simple moving average of $123.68 and a two-hundred day simple moving average of $126.36. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the firm posted $2.61 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on STLD. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $146.22.

Institutional Investors Weigh In On Steel Dynamics

A number of large investors have recently modified their holdings of STLD. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth about $28,000. Private Trust Co. NA increased its position in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. IAG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at about $39,000. Finally, Avalon Trust Co acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $42,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

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.