Insider Selling: Steel Dynamics Director Unloads 80,000 Shares of Stock (STLD)
Steel Dynamics (NASDAQ:STLD) Director Keith Busse sold 80,000 shares of the stock on the open market in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $18.28, for a total transaction of $1,462,400.00. Following the transaction, the director now directly owns 1,094,752 shares in the company, valued at approximately $20,012,067. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Steel Dynamics (NASDAQ:STLD) traded down 1.09% during mid-day trading on Thursday, hitting $18.23. The stock had a trading volume of 1,802,016 shares. Steel Dynamics has a 52 week low of $10.99 and a 52 week high of $16.89. The stock has a 50-day moving average of $15.82 and a 200-day moving average of $15.31. The company has a market cap of $4.027 billion and a price-to-earnings ratio of 21.66.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis.
A number of analysts have recently weighed in on STLD shares. Analysts at UBS AG reiterated a “buy” rating on shares of Steel Dynamics in a research note to investors on Tuesday. They now have a $20.00 price target on the stock, up previously from $17.00. Separately, analysts at Nomura reiterated a “buy” rating on shares of Steel Dynamics in a research note to investors on Friday, October 18th. They now have a $18.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Steel Dynamics in a research note to investors on Wednesday, October 16th. They set an “outperform” rating and a $17.22 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.62.
Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.
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