Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares of the company's stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Steel Dynamics Stock Down 1.9 %
Shares of NASDAQ:STLD opened at $132.30 on Thursday. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.50 and a beta of 1.35. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business has a 50-day moving average price of $123.50 and a 200 day moving average price of $126.40. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the firm earned $2.61 EPS. Sell-side analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently issued reports on STLD shares. BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. UBS Group reissued a "neutral" rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price for the company. Finally, StockNews.com upgraded Steel Dynamics from a "sell" rating to a "hold" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Steel Dynamics has a consensus rating of "Hold" and an average price target of $146.22.
Read Our Latest Research Report on STLD
Institutional Trading of Steel Dynamics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bornite Capital Management LP boosted its position in shares of Steel Dynamics by 75.0% during the fourth quarter. Bornite Capital Management LP now owns 350,000 shares of the basic materials company's stock worth $39,924,000 after buying an additional 150,000 shares during the period. Pitcairn Co. lifted its stake in Steel Dynamics by 14.7% during the 4th quarter. Pitcairn Co. now owns 2,864 shares of the basic materials company's stock worth $327,000 after acquiring an additional 367 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in Steel Dynamics by 90.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 406,343 shares of the basic materials company's stock valued at $46,352,000 after acquiring an additional 192,767 shares during the period. OneAscent Financial Services LLC grew its position in 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 acquiring an additional 101 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Steel Dynamics during the fourth quarter worth about $1,399,000. Hedge funds and other institutional investors own 82.41% of the company's stock.
Steel Dynamics Company Profile
(
Get Free Report)
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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