Steel Dynamics, Inc. (NASDAQ:STLD) SVP Christopher A. Graham Sells 12,000 Shares

Key Points

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Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Steel Dynamics Trading Down 4.1%

NASDAQ STLD traded down $5.19 on Friday, reaching $122.37. The stock had a trading volume of 1,623,228 shares, compared to its average volume of 1,178,673. The firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.04 and a beta of 1.37. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock has a fifty day moving average price of $130.79 and a two-hundred day moving average price of $128.24.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its 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). The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.72 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Institutional Trading of Steel Dynamics

Large investors have recently modified their holdings of the stock. Ritholtz Wealth Management increased its position in shares of Steel Dynamics by 24.4% during the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock worth $836,000 after acquiring an additional 1,310 shares during the period. Farther Finance Advisors LLC increased its position in shares of Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock worth $190,000 after acquiring an additional 145 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Steel Dynamics by 63.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company's stock worth $839,000 after acquiring an additional 2,854 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock worth $3,441,000 after acquiring an additional 6,604 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Steel Dynamics during the fourth quarter worth $16,495,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STLD shares. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Morgan Stanley lifted their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $149.33.

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.