Steel Dynamics (NASDAQ:STLD) SVP James Stanley Anderson Sells 10,000 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steel Dynamics Stock Down 0.5%

STLD opened at $267.20 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50. The business has a 50-day moving average of $222.85 and a two-hundred day moving average of $193.61. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $280.49.

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

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s payout ratio is 22.67%.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of STLD. NewEdge Advisors LLC lifted its position in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its position in Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares in the last quarter. Jump Financial LLC acquired a new position in Steel Dynamics during the 2nd quarter worth approximately $1,019,000. Qube Research & Technologies Ltd acquired a new position in Steel Dynamics during the 2nd quarter worth approximately $48,746,000. Finally, Sei Investments Co. raised its position in shares of Steel Dynamics by 7.9% in the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after purchasing an additional 7,712 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on STLD. Barclays began coverage on Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. Morgan Stanley reiterated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp boosted their target price on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. BMO Capital Markets boosted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Citigroup boosted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given 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 “Moderate Buy” and a consensus target price of $224.64.

Steel Dynamics Company Profile

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.