Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. reduced its stake in Steel Dynamics, Inc. by 25.6%, selling 2,401 shares and bringing its total ownership to 6,980 shares valued at approximately $929,000.
• A significant sell-off occurred among company insiders, with SVP Miguel Alvarez selling 7,495 shares worth over $1 million, representing a 5.64% decrease in his holdings.
• Steel Dynamics reported a quarterly EPS of $2.01, missing estimates of $2.05, and had a revenue of $4.57 billion, showing a 1.5% decline compared to the previous year.

Navellier & Associates Inc. lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,980 shares of the basic materials company's stock after selling 2,401 shares during the period. Navellier & Associates Inc.'s holdings in Steel Dynamics were worth $929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $25,000. Grove Bank & Trust raised its stake in shares of Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 183 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $36,000. Bartlett & CO. Wealth Management LLC bought a new position in Steel Dynamics in the first quarter worth approximately $38,000. Finally, Investment Management Corp VA ADV bought a new position in Steel Dynamics in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

STLD stock traded down $0.45 during mid-day trading on Wednesday, reaching $127.08. The company's stock had a trading volume of 212,006 shares, compared to its average volume of 1,650,058. The stock has a market cap of $18.86 billion, a PE ratio of 18.52, a P/E/G ratio of 1.06 and a beta of 1.37. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The company's 50 day moving average is $130.99 and its two-hundred day moving average is $128.22.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $2.72 EPS. The firm's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the transaction, the senior vice president owned 125,319 shares of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the sale, the director owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on STLD. Morgan Stanley boosted their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

About Steel Dynamics

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.