Insider Selling: 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 firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Steel Dynamics Stock Up 2.2 %

Steel Dynamics stock opened at $135.83 on Friday. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 13.86 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $123.36 and its two-hundred day moving average price is $126.48. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 firm posted $2.61 earnings per share. On average, analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $28,000. Private Trust Co. NA raised its holdings in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $39,000. Finally, Avalon Trust Co bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $42,000. 82.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective on the stock in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. Morgan Stanley lifted 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 report on Monday, February 3rd. Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $146.22.

About Steel Dynamics

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.