Insider Selling: Steel Dynamics (NASDAQ:STLD) SVP Sells $538,453.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was 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

Shares of STLD opened at $229.34 on Friday. The firm has a market capitalization of $33.19 billion, a PE ratio of 24.53, a PEG ratio of 0.49 and a beta of 1.48. The company’s 50-day moving average is $197.95 and its 200-day moving average is $182.49. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $243.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Morgan Stanley reissued an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $214.30.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently bought and sold shares of STLD. Prosperity Bancshares Inc bought a new position in Steel Dynamics during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC grew its stake in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Steel Dynamics during the fourth quarter worth about $27,000. Sound Income Strategies LLC grew its stake in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares in the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new stake in Steel Dynamics during the first quarter worth about $31,000. 82.41% of the stock is owned by institutional investors.

About Steel Dynamics

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.