Richard A. Poinsatte Sells 2,000 Shares of Steel Dynamics, Inc. (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $0.68 during trading on Tuesday, reaching $140.01. The company’s stock had a trading volume of 617,012 shares, compared to its average volume of 1,265,596. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 12.66 and a beta of 1.31. The business’s fifty day moving average price is $129.58 and its 200-day moving average price is $127.14. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the company earned $3.47 EPS. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.31%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $144.29.

Institutional Trading of Steel Dynamics

Hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new position in Steel Dynamics during the second quarter worth $33,000. Private Trust Co. NA boosted its holdings in 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 buying an additional 245 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. raised its holdings in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

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.