Gabriel Shaheen Sells 1,254 Shares of Steel Dynamics, Inc. (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) Director Gabriel Shaheen sold 1,254 shares of the company'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 value of $168,173.94. Following the sale, the director now owns 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Steel Dynamics Trading Up 1.4%

Steel Dynamics stock traded up $1.82 during trading on Thursday, reaching $131.85. The company had a trading volume of 1,061,038 shares, compared to its average volume of 1,540,584. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.05 and a beta of 1.38. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock's 50 day moving average price is $127.48 and its two-hundred day moving average price is $126.87.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period last year, the company posted $3.67 EPS. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its Board of Directors has authorized a stock repurchase plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 1.52%. Steel Dynamics's dividend payout ratio is currently 26.42%.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently modified their holdings of STLD. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Steel Dynamics by 15.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,406 shares of the basic materials company's stock valued at $1,893,000 after acquiring an additional 2,154 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Steel Dynamics by 1.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,076 shares of the basic materials company's stock worth $1,834,000 after purchasing an additional 299 shares during the period. Golden State Wealth Management LLC bought a new position in Steel Dynamics during the 4th quarter valued at $48,000. Cidel Asset Management Inc. increased its position in shares of Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock valued at $232,000 after purchasing an additional 118 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in shares of Steel Dynamics by 6.9% during the 4th quarter. Kingsview Wealth Management LLC now owns 75,058 shares of the basic materials company's stock valued at $8,562,000 after purchasing an additional 4,833 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on STLD shares. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research report on Monday, March 24th. Morgan Stanley set a $140.00 price objective on Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $147.44.

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.