SG Americas Securities LLC Acquires 1,702 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

SG Americas Securities LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,889 shares of the basic materials company’s stock after purchasing an additional 1,702 shares during the period. SG Americas Securities LLC’s holdings in Steel Dynamics were worth $2,634,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Atomi Financial Group Inc. raised its stake in Steel Dynamics by 3.1% during the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 79 shares during the period. Csenge Advisory Group raised its stake in Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the period. Greenfield Savings Bank raised its stake in Steel Dynamics by 0.7% during the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after acquiring an additional 85 shares during the period. Dorsey Wright & Associates raised its stake in Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after acquiring an additional 96 shares during the period. Finally, Stiles Financial Services Inc raised its stake in Steel Dynamics by 0.5% during the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after acquiring an additional 99 shares during the period. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STLD shares. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets cut their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $120.00 to $131.00 in a report on Monday, September 9th. Finally, Morgan Stanley cut their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $142.71.

Steel Dynamics Trading Up 1.4 %

STLD stock opened at $130.07 on Tuesday. The firm has a fifty day moving average price of $119.52 and a 200 day moving average price of $128.25. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market cap of $20.44 billion, a PE ratio of 8.93 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.81 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.36 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.41%. Steel Dynamics’s dividend payout ratio is presently 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.