Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells $3,184,810.83 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded down $1.19 during mid-day trading on Wednesday, hitting $133.67. The stock had a trading volume of 1,204,652 shares, compared to its average volume of 1,807,233. The company has a 50 day moving average of $123.68 and a two-hundred day moving average of $126.36. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. 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 cap of $20.35 billion, a PE ratio of 13.64 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter last year, the company posted $2.61 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of STLD. Norges Bank purchased a new position in Steel Dynamics in the fourth quarter valued at $336,426,000. Holocene Advisors LP increased its stake in shares of Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Steel Dynamics by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares in the last quarter. Nordea Investment Management AB grew its holdings in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Steel Dynamics by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company’s stock worth $156,836,000 after buying an additional 11,672 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research reports. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley increased their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $146.22.

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.