Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) Director Sells 5,040 Shares of Stock

Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) Director Keith E. Busse sold 5,040 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the sale, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ STLD traded down $0.63 during trading hours on Monday, hitting $82.31. 37,375 shares of the company’s stock were exchanged, compared to its average volume of 2,382,999. The business’s 50 day moving average is $83.65 and its 200-day moving average is $71.50. Steel Dynamics, Inc. has a 12-month low of $50.54 and a 12-month high of $100.37. The firm has a market capitalization of $15.53 billion, a P/E ratio of 4.28 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42.

Steel Dynamics (NASDAQ:STLDGet Rating) last announced its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.58 by $0.44. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The company’s revenue was up 57.1% on a year-over-year basis. During the same period last year, the business posted $2.10 EPS. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 21.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.65%. Steel Dynamics’s payout ratio is currently 7.02%.

Steel Dynamics announced that its Board of Directors has approved a stock repurchase plan on Monday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 8.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently made changes to their positions in STLD. Rational Advisors LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $25,000. Citizens National Bank Trust Department acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $25,000. Allegheny Financial Group LTD acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $27,000. UMB Bank N A MO acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $27,000. Finally, Riverview Trust Co acquired a new stake in Steel Dynamics during the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Several analysts have weighed in on STLD shares. BMO Capital Markets upped their target price on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 24th. StockNews.com started coverage on Steel Dynamics in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered Steel Dynamics from a “strong-buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a research note on Tuesday, May 24th. Finally, The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $86.25.

Steel Dynamics Company Profile (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

Further Reading

Insider Buying and Selling by Quarter for Steel Dynamics (NASDAQ:STLD)

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