Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis Sells 23,649 Shares

Steel Dynamics, Inc. (NASDAQ:STLD) SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Steel Dynamics Trading Down 1.9 %

STLD stock opened at $132.30 on Thursday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The company’s 50-day simple moving average is $123.50 and its 200-day simple moving average is $126.40. The firm has a market cap of $20.14 billion, a P/E ratio of 13.50 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period last year, the business earned $2.61 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in STLD. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Steel Dynamics by 350.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 900 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 700 shares during the period. Ritholtz Wealth Management lifted its stake in Steel Dynamics by 63.8% in the 3rd quarter. Ritholtz Wealth Management now owns 4,317 shares of the basic materials company’s stock valued at $544,000 after buying an additional 1,682 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Steel Dynamics in the 3rd quarter worth about $339,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Steel Dynamics by 274.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,171 shares of the basic materials company’s stock worth $148,000 after buying an additional 858 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in Steel Dynamics by 4.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 61,305 shares of the basic materials company’s stock worth $7,729,000 after buying an additional 2,730 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on STLD. Morgan Stanley raised their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Company Profile

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.