Insider Selling: Steel Dynamics, Inc. (NASDAQ:STLD) SVP Sells 23,649 Shares of Stock

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Steel Dynamics Trading Up 2.2 %

Shares of Steel Dynamics stock opened at $135.83 on Friday. The stock has a market capitalization of $20.68 billion, a P/E ratio of 13.86 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $123.36 and a 200 day simple moving average of $126.48. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS. Research analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds have recently added to or reduced their stakes in the stock. DoubleLine ETF Adviser LP bought a new stake in Steel Dynamics during the 4th quarter worth about $1,847,000. Mercer Global Advisors Inc. ADV grew its holdings in Steel Dynamics by 23.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 79,882 shares of the basic materials company’s stock worth $9,112,000 after acquiring an additional 15,284 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Steel Dynamics during the 4th quarter worth about $222,000. Schonfeld Strategic Advisors LLC bought a new stake in Steel Dynamics during the 4th quarter worth about $2,795,000. Finally, Northern Trust Corp grew its holdings in Steel Dynamics by 17.1% during the 4th quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company’s stock worth $202,507,000 after acquiring an additional 259,361 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on STLD. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Morgan Stanley upped their target price 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. Finally, UBS Group restated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.