Richard Poinsatte Sells 2,300 Shares of Steel Dynamics (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Richard Poinsatte sold 2,300 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Steel Dynamics Trading Down 2.3%

Steel Dynamics stock opened at $229.34 on Friday. The firm has a 50 day simple moving average of $197.95 and a 200-day simple moving average of $182.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock has a market capitalization of $33.19 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $243.73.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup raised their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Morgan Stanley restated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, KeyCorp raised their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $214.30.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC lifted its position in Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after buying an additional 55 shares in the last quarter. Optas LLC lifted its position in Steel Dynamics by 3.0% in the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Steel Dynamics by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after purchasing an additional 61 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Steel Dynamics by 13.2% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. Finally, Wright Investors Service Inc. raised its holdings in shares of Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.