Insider Selling: Steel Dynamics (NASDAQ:STLD) EVP Sells $12,445,500.00 in Stock

Key Points

• Steel Dynamics EVP Barry Schneider sold 50,000 shares for about $12.45 million at an average price of $248.91, reducing his direct holdings by 20.29% to 196,399 shares.
• The stock fell $9.06 to $238.59 in Wednesday trading. The company’s latest quarterly EPS of $5.26 missed analysts’ $5.48 estimate, while revenue rose 34.8% year over year to $6.51 billion.
• Analysts give the stock a Moderate Buy consensus rating and a $275.17 average price target; Steel Dynamics also pays a quarterly dividend of $0.53 per share.

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) EVP Barry Schneider sold 50,000 shares of Steel Dynamics stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $248.91, for a total value of $12,445,500.00. Following the transaction, the executive vice president directly owned 196,399 shares of the company's stock, valued at approximately $48,885,675.09. This represents a 20.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Steel Dynamics Price Performance

NASDAQ STLD traded down $9.06 during trading hours on Wednesday, reaching $238.59. The company's stock had a trading volume of 676,042 shares, compared to its average volume of 1,187,681. The stock has a market cap of $33.93 billion, a PE ratio of 17.60, a PEG ratio of 0.36 and a beta of 1.45. Steel Dynamics, Inc. has a fifty-two week low of $150.03 and a fifty-two week high of $288.74. The company's 50-day moving average is $238.73 and its two-hundred day moving average is $224.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 3.14.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, October 19th. The basic materials company reported $5.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.48 by ($0.22). The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The business's revenue was up 34.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.74 EPS. Analysts forecast that Steel Dynamics, Inc. will post 18.12 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Steel Dynamics's dividend payout ratio is 15.65%.

Analyst Ratings Changes

A number of analysts have recently commented on STLD shares. Morgan Stanley dropped their price objective on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Bank of America lowered their price target on Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Barclays set a $280.00 price target on Steel Dynamics in a research note on Friday, October 23rd. KeyCorp raised their price objective on Steel Dynamics from $262.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. Finally, Wall Street Zen lowered Steel Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 20th. Nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of "Moderate Buy" and a consensus price target of $275.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Steel Dynamics in the 2nd quarter worth about $2,844,501,000. Bank of America Corp DE acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at about $264,212,000. Bank of New York Mellon Corp purchased a new stake in shares of Steel Dynamics in the second quarter worth approximately $211,159,000. Deutsche Bank AG purchased a new stake in shares of Steel Dynamics in the second quarter worth approximately $126,579,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Steel Dynamics by 56,088.1% during the first quarter. Bessemer Group Inc. now owns 542,215 shares of the basic materials company's stock worth $97,598,000 after purchasing an additional 541,250 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.

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