Steel Dynamics, Inc. (NASDAQ:STLD) Director Sells $168,173.94 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director now directly owns 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Steel Dynamics Stock Up 0.9%

STLD traded up $1.25 during trading on Monday, hitting $134.81. The stock had a trading volume of 246,682 shares, compared to its average volume of 1,537,366. The stock has a 50 day simple moving average of $126.17 and a two-hundred day simple moving average of $126.96. The company has a market capitalization of $20.01 billion, a PE ratio of 13.74, a PEG ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business posted $3.67 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. Steel Dynamics's payout ratio is currently 26.42%.

Steel Dynamics announced that its Board of Directors has approved a share buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of Steel Dynamics

Several large investors have recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its position in Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after buying an additional 75 shares during the last quarter. Hemington Wealth Management lifted its stake in Steel Dynamics by 35.9% during the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 84 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Steel Dynamics by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after acquiring an additional 91 shares during the last quarter. Sunbelt Securities Inc. grew its position in Steel Dynamics by 25.0% during the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock worth $63,000 after purchasing an additional 100 shares during the period. Finally, OneAscent Financial Services LLC lifted its holdings in shares of Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock valued at $527,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the company from $135.00 to $145.00 in a research note on Monday, March 31st. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. KeyCorp upgraded Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a research report on Tuesday, February 11th. Finally, Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $147.44.

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.

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