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 Steel Dynamics stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the transaction, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

STLD stock traded down $0.63 during mid-day trading on Monday, hitting $82.31. 37,375 shares of the company were exchanged, compared to its average volume of 2,382,999. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 1-year low of $50.54 and a 1-year high of $100.37. The business has a 50 day simple moving average of $83.65 and a 200-day simple moving average of $71.50. The stock has a market capitalization of $15.53 billion, a PE ratio of 4.28 and a beta of 1.30.

Steel Dynamics (NASDAQ:STLDGet Rating) last posted its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $0.44. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The company’s revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 21.52 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has authorized 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 reacquire up to 8.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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

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

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

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