Steel Dynamics (NASDAQ:STLD) SVP Miguel Alvarez Sells 4,825 Shares

by · The Markets Daily

Steel Dynamics, Inc. (NASDAQ:STLD – Get Free Report) SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Steel Dynamics Stock Performance

NASDAQ:STLD traded up $1.98 on Friday, reaching $227.03. 758,239 shares of the company’s stock were exchanged, compared to its average volume of 1,295,118. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.29. The firm has a market cap of $32.86 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 0.58 and a beta of 1.39. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $229.00. The stock has a fifty day simple moving average of $187.15 and a 200-day simple moving average of $173.92.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Steel Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 14.41 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, March 31st. Steel Dynamics’s payout ratio is 22.67%.

Institutional Trading of Steel Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its holdings in Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after buying an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd purchased a new stake in Steel Dynamics during the 4th quarter valued at $586,702,000. Norges Bank purchased a new stake in Steel Dynamics during the 4th quarter valued at $564,590,000. Nordea Investment Management AB raised its holdings in Steel Dynamics by 12.1% during the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after buying an additional 252,108 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after buying an additional 72,122 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on STLD shares. 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. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, BMO Capital Markets boosted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $210.33.

Read Our Latest Stock Analysis on STLD

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Steel Dynamics Company Profile

(Get Free Report)

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.

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