SG Americas Securities LLC Raises Stock Holdings in Steel Dynamics, Inc. $STLD

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

Other hedge funds have also bought and sold shares of the company. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $586,702,000. Norges Bank bought a new position in Steel Dynamics during the 4th quarter valued at approximately $564,590,000. Boston Partners increased its position in Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after buying an additional 1,070,042 shares in the last quarter. Hsbc Holdings PLC raised its stake in Steel Dynamics by 92.4% during the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock valued at $174,609,000 after buying an additional 494,828 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in Steel Dynamics during the second quarter valued at $48,746,000. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the transaction, the director owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Bank of America cut their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, BMO Capital Markets upped their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.36.

Steel Dynamics Trading Down 0.9%

Shares of NASDAQ:STLD opened at $241.43 on Thursday. The stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.49 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock’s 50-day simple moving average is $242.24 and its two-hundred day simple moving average is $201.95. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74.

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

Steel Dynamics Announces Dividend

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

Steel Dynamics Company Profile

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.