American International Group Inc. Sells 1,298 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

American International Group Inc. lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,064 shares of the basic materials company’s stock after selling 1,298 shares during the quarter. American International Group Inc.’s holdings in Steel Dynamics were worth $4,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of STLD. CVA Family Office LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth about $29,000. Lindbrook Capital LLC grew its holdings in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares during the last quarter. Security National Bank bought a new position in Steel Dynamics during the 4th quarter valued at about $30,000. Finally, Exchange Traded Concepts LLC bought a new position in Steel Dynamics during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $127.43.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $128.18 on Friday. The company’s fifty day moving average price is $131.54 and its 200 day moving average price is $128.32. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The company has a market capitalization of $20.14 billion, a PE ratio of 8.80 and a beta of 1.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.01 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 11.74 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

About Steel Dynamics

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.