SG Americas Securities LLC Purchases 47,633 Shares of Steel Dynamics, Inc. $STLD

SG Americas Securities LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 71.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,401 shares of the basic materials company’s stock after acquiring an additional 47,633 shares during the quarter. SG Americas Securities LLC owned 0.08% of Steel Dynamics worth $20,592,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Fisher Asset Management LLC grew its position in Steel Dynamics by 47.2% in the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after purchasing an additional 11,183 shares during the period. Strs Ohio lifted its stake in shares of Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after buying an additional 10,519 shares in the last quarter. Concentric Capital Strategies LP bought a new position in shares of Steel Dynamics in the third quarter valued at $24,349,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after buying an additional 72,122 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Steel Dynamics by 16.4% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock valued at $6,680,000 after buying an additional 6,738 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several analyst reports. KeyCorp increased their price objective on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $236.36.

Insider Transactions at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 22,125 shares of company stock worth $5,438,226 in the last three months. Insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $241.43 on Thursday. The firm has a market capitalization of $34.94 billion, a PE ratio of 25.82, a P/E/G ratio of 0.49 and a beta of 1.50. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $242.24 and a two-hundred day moving average price of $201.95. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 16.32 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

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.