Gabriel Shaheen Sells 1,254 Shares of Steel Dynamics, Inc. (NASDAQ:STLD) Stock

Steel Dynamics, Inc. (NASDAQ:STLD) Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director now directly owns 81,812 shares of the company’s stock, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Steel Dynamics Trading Down 2.8%

Shares of STLD opened at $130.03 on Thursday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a 50-day moving average of $127.06 and a 200 day moving average of $126.96. The firm has a market capitalization of $19.30 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the business posted $3.67 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its board has approved a stock repurchase plan on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.54%. Steel Dynamics’s dividend payout ratio is currently 26.42%.

Analyst Ratings Changes

STLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, March 24th. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. Finally, Wall Street Zen cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.44.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently modified their holdings of STLD. Norges Bank bought a new stake in shares of Steel Dynamics in the 4th quarter valued at about $336,426,000. Victory Capital Management Inc. raised its holdings in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after purchasing an additional 1,475,767 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Steel Dynamics by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after purchasing an additional 1,437,897 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 531.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock valued at $149,054,000 after purchasing an additional 1,002,813 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after acquiring an additional 815,629 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

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.