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

Steel Dynamics, Inc. (NASDAQ:STLDGet Free Report) SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Steel Dynamics Trading Up 0.4 %

Shares of STLD opened at $132.88 on Friday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a market cap of $20.23 billion, a P/E ratio of 13.56 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $123.38 and its 200-day simple moving average is $126.44.

Steel Dynamics (NASDAQ:STLDGet Free Report) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 quarter in the previous year, the company posted $2.61 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STLD. Morgan Stanley upped their target price 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. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. UBS Group reiterated a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday. Finally, StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $146.22.

View Our Latest Research Report on STLD

Institutional Investors Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in STLD. Geode Capital Management LLC lifted its holdings in Steel Dynamics by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company’s stock valued at $419,697,000 after buying an additional 30,350 shares in the last quarter. Norges Bank purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $336,426,000. Holocene Advisors LP boosted its holdings in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after purchasing an additional 96,122 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

(Get Free Report)

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.

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