James Stanley Anderson Sells 10,000 Shares of Steel Dynamics (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Steel Dynamics Trading Up 1.0%

Shares of STLD stock opened at $269.80 on Wednesday. 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 stock has a market cap of $39.05 billion, a P/E ratio of 28.86, a P/E/G ratio of 0.57 and a beta of 1.50. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $280.49. The business has a fifty day simple moving average of $224.82 and a 200-day simple moving average of $194.42.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.44 EPS. On average, analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. KeyCorp increased their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Barclays assumed coverage on Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective on the stock. Citigroup increased their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $224.64.

Hedge Funds Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in shares of Steel Dynamics by 47.2% in the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after purchasing an additional 11,183 shares in the last quarter. Strs Ohio raised its holdings in shares of Steel Dynamics by 7.3% during the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after buying an additional 10,519 shares during the period. Concentric Capital Strategies LP purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $24,349,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after buying an additional 72,122 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ raised its holdings in shares of Steel Dynamics by 16.4% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock valued at $6,680,000 after buying an additional 6,738 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

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.