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

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

A number of other institutional investors and hedge funds have also bought and sold shares of STLD. Cornerstone Planning Group LLC lifted its position in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Toth Financial Advisory Corp grew its stake in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after buying an additional 100 shares in the last quarter. Covestor Ltd increased its holdings in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after buying an additional 93 shares during the last quarter. CNB Bank purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at $43,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at $46,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

STLD stock opened at $170.97 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47. The firm’s fifty day moving average is $184.61 and its 200 day moving average is $166.99. The firm has a market cap of $24.77 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.47 and a beta of 1.43.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 6.52% and a return on equity of 13.56%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a $0.53 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Wall Street Zen lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $182.44.

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.