Steel Dynamics, Inc. (STLD) Insider Sells $514,188.00 in Stock

Steel Dynamics, Inc. (NASDAQ:STLD) insider Christopher A. Graham sold 10,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $47.61, for a total value of $514,188.00. Following the transaction, the insider now owns 26,087 shares of the company’s stock, valued at approximately $1,242,002.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

STLD stock traded down $0.78 during midday trading on Thursday, reaching $46.42. 241,542 shares of the company’s stock traded hands, compared to its average volume of 1,454,508. Steel Dynamics, Inc. has a 1-year low of $32.36 and a 1-year high of $52.10. The stock has a market capitalization of $11.01 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.70 and a beta of 1.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.61 and a quick ratio of 1.92.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 23rd. The basic materials company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.04. Steel Dynamics had a return on equity of 26.90% and a net margin of 10.01%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the firm posted $0.63 EPS. The business’s revenue was up 29.3% on a year-over-year basis. equities analysts expect that Steel Dynamics, Inc. will post 5.57 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has authorized a share buyback plan on Tuesday, September 4th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Sunday, September 30th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.75 dividend on an annualized basis and a yield of 1.62%. Steel Dynamics’s dividend payout ratio is 28.30%.

A number of hedge funds have recently added to or reduced their stakes in STLD. Qube Research & Technologies Ltd acquired a new stake in Steel Dynamics during the 2nd quarter valued at $119,000. Smithfield Trust Co. increased its holdings in Steel Dynamics by 2,523.1% during the 1st quarter. Smithfield Trust Co. now owns 3,410 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 3,280 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Steel Dynamics during the 1st quarter valued at $188,000. Itau Unibanco Holding S.A. acquired a new stake in Steel Dynamics during the 2nd quarter valued at $193,000. Finally, CENTRAL TRUST Co increased its holdings in Steel Dynamics by 6,707.7% during the 2nd quarter. CENTRAL TRUST Co now owns 4,425 shares of the basic materials company’s stock valued at $203,000 after purchasing an additional 4,360 shares in the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on STLD. Bank of America raised their target price on Steel Dynamics from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. Jefferies Financial Group restated a “buy” rating and set a $58.00 target price on shares of Steel Dynamics in a research report on Wednesday, July 25th. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, ValuEngine downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Saturday, June 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of “Buy” and an average target price of $54.08.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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