SG Americas Securities LLC Purchases 61,805 Shares of Steel Dynamics, Inc. $STLD

SG Americas Securities LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1,245.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,768 shares of the basic materials company’s stock after buying an additional 61,805 shares during the quarter. SG Americas Securities LLC’s holdings in Steel Dynamics were worth $11,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Steel Dynamics by 13.2% during the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 64 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Steel Dynamics by 4.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 70 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in Steel Dynamics by 24.8% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 75 shares during the period. Choreo LLC raised its position in Steel Dynamics by 3.3% during the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 80 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in Steel Dynamics by 2.4% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,468 shares of the basic materials company’s stock worth $484,000 after buying an additional 80 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

STLD opened at $170.97 on Monday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47. The stock has a market cap of $24.77 billion, a PE ratio of 21.34, a PEG ratio of 0.47 and a beta of 1.43. The business has a 50 day moving average of $184.61 and a 200-day moving average of $166.99.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is currently 24.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on STLD shares. Wall Street Zen cut Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, KeyCorp assumed coverage on shares of Steel Dynamics in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $190.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $182.44.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.