Richard A. Poinsatte Sells 2,000 Shares of Steel Dynamics, Inc. (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Steel Dynamics Trading Up 2.7 %

Shares of Steel Dynamics stock opened at $144.04 on Thursday. The company’s fifty day moving average price is $130.93 and its two-hundred day moving average price is $127.30. The firm has a market capitalization of $21.93 billion, a PE ratio of 13.04 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 earnings per share. On average, analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is 16.65%.

Institutional Trading of Steel Dynamics

A number of large investors have recently bought and sold shares of STLD. Coldstream Capital Management Inc. grew its holdings in shares of Steel Dynamics by 7.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,917 shares of the basic materials company’s stock worth $625,000 after purchasing an additional 336 shares during the last quarter. Brophy Wealth Management LLC bought a new position in Steel Dynamics during the 3rd quarter valued at about $292,000. M&T Bank Corp boosted its position in Steel Dynamics by 0.9% in the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after buying an additional 88 shares in the last quarter. Barclays PLC grew its stake in Steel Dynamics by 21.8% during the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after buying an additional 80,262 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Steel Dynamics by 7.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,467 shares of the basic materials company’s stock worth $9,137,000 after buying an additional 4,759 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on STLD shares. Morgan Stanley dropped their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.