Steel Dynamics, Inc. (NASDAQ:STLD) Short Interest Down 25.8% in November

Steel Dynamics, Inc. (NASDAQ:STLD) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,960,000 shares, a decline of 25.8% from the November 15th total of 3,990,000 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 2.1 days.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $4.54 on Friday, reaching $122.37. 1,651,104 shares of the company’s stock were exchanged, compared to its average volume of 1,333,208. Steel Dynamics has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a fifty day moving average of $137.11 and a 200-day moving average of $127.96. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 11.07 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.47 EPS. On average, research analysts predict that Steel Dynamics will post 10.09 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.50%. Steel Dynamics’s dividend payout ratio is 16.65%.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $146.13.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of large investors have recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in Steel Dynamics during the second quarter worth $33,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics during the 2nd quarter worth $52,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

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.