Steel Dynamics, Inc. (NASDAQ:STLD) Director Keith E. Busse sold 4,965 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Steel Dynamics, Inc. (NASDAQ STLD) traded up 0.50% during mid-day trading on Thursday, reaching $36.52. The company’s stock had a trading volume of 2,051,288 shares. The company has a 50 day moving average price of $35.48 and a 200 day moving average price of $35.28. Steel Dynamics, Inc. has a 12 month low of $22.79 and a 12 month high of $40.17. The stock has a market capitalization of $8.81 billion, a P/E ratio of 16.78 and a beta of 1.25.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post $2.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 30th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, June 28th. Steel Dynamics’s dividend payout ratio is 28.57%.

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A number of research analysts have commented on the company. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Wednesday, May 24th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, April 21st. Deutsche Bank AG restated a “buy” rating on shares of Steel Dynamics in a research note on Saturday, June 24th. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Cowen and Company restated a “buy” rating and set a $44.00 price objective on shares of Steel Dynamics in a research note on Wednesday, July 19th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Steel Dynamics presently has an average rating of “Buy” and an average target price of $39.78.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advantage Investment Management LLC boosted its position in shares of Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after buying an additional 950 shares in the last quarter. Washington Trust Bank boosted its position in shares of Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $145,000. Advisory Services Network LLC acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $150,000. Finally, IFP Advisors Inc boosted its position in shares of Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock worth $152,000 after buying an additional 2,711 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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