Steel Dynamics (NASDAQ:STLD) SVP Richard Poinsatte Sells 2,300 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $234.68 on Friday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $243.73. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $197.24 and a 200-day moving average price of $182.16. The company has a market cap of $33.96 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48.

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

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is 22.67%.

Wall Street Analysts Forecast Growth

Several research firms have commented on STLD. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target for the company. in a research report on Thursday, April 30th. Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. BMO Capital Markets upped their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Citigroup raised their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $214.30.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently added to or reduced their stakes in the business. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its stake in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after buying an additional 180 shares in the last quarter. MV Capital Management Inc. bought a new stake in Steel Dynamics during the 4th quarter valued at $27,000. Sound Income Strategies LLC lifted its position in shares of 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 acquiring an additional 150 shares in the last quarter. Finally, Cedar Mountain Advisors LLC bought a new position in shares of Steel Dynamics in the first quarter worth $31,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

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.