Steel Dynamics, Inc. (NASDAQ:STLD) Director Richard P. Teets, Jr. sold 140,295 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $35.64, for a total value of $5,000,113.80. Following the completion of the sale, the director now owns 5,042,939 shares of the company’s stock, valued at $179,730,345.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded up 0.17% during trading on Monday, hitting $36.40. The stock had a trading volume of 719,279 shares. The stock has a market cap of $8.82 billion, a price-to-earnings ratio of 23.33 and a beta of 1.35. The company’s 50 day moving average price is $35.64 and its 200 day moving average price is $31.96. Steel Dynamics, Inc. has a 12 month low of $21.57 and a 12 month high of $40.17.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 24th. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company earned $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Steel Dynamics had a return on equity of 17.30% and a net margin of 4.91%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post $2.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 31st will be issued a $0.155 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, March 29th. Steel Dynamics’s dividend payout ratio is presently 35.90%.
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STLD has been the subject of a number of analyst reports. Macquarie downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, November 29th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $31.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 30th. Citigroup Inc restated a “buy” rating and issued a $43.00 price target (up from $30.00) on shares of Steel Dynamics in a research report on Friday, January 20th. Credit Suisse Group AG downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $36.00 in a research report on Thursday, January 12th. Finally, Vetr downgraded Steel Dynamics from a “hold” rating to a “sell” rating and set a $33.61 target price for the company. in a research report on Tuesday, November 22nd. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Steel Dynamics has a consensus rating of “Buy” and an average price target of $34.75.
Hedge funds have recently modified their holdings of the stock. Seven Eight Capital LP bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $141,000. Ancora Advisors LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $146,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the company’s stock valued at $113,000 after buying an additional 2,896 shares during the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $202,000. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $218,000. Institutional investors own 79.46% of the company’s stock.
Steel Dynamics Company Profile
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