Insider Selling: Steel Dynamics Director Unloads 2,201 Shares of Stock (STLD)
Steel Dynamics (NASDAQ:STLD) Director Keith E. Busse unloaded 2,201 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $18.17, for a total transaction of $39,992.17. Following the completion of the transaction, the director now directly owns 1,094,825 shares of the company’s stock, valued at approximately $19,892,970. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
STLD has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Thursday, May 15th. They now have a $21.00 price target on the stock. Separately, analysts at Cowen and Company upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $24.00 price target on the stock, up previously from $20.00. Finally, analysts at Zacks downgraded shares of Steel Dynamics from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 22nd. They now have a $17.30 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.57.
Shares of Steel Dynamics (NASDAQ:STLD) traded down 2.32% during mid-day trading on Tuesday, hitting $17.70. 1,470,015 shares of the company’s stock traded hands. Steel Dynamics has a 52 week low of $13.85 and a 52 week high of $19.74. The stock’s 50-day moving average is $18.26 and its 200-day moving average is $18.09. The company has a market cap of $3.954 billion and a P/E ratio of 22.97.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the company posted $0.21 earnings per share. Steel Dynamics’s revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Steel Dynamics will post $1.15 earnings per share for the current fiscal year.
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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