SG Americas Securities LLC Has $3.43 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

SG Americas Securities LLC grew its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1,411.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,381 shares of the basic materials company's stock after purchasing an additional 25,569 shares during the quarter. SG Americas Securities LLC's holdings in Steel Dynamics were worth $3,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. IAG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter worth $39,000. Investment Management Corp VA ADV acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $40,000. Avalon Trust Co acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $42,000. Park Square Financial Group LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $45,000. Finally, Sunbelt Securities Inc. increased its stake in shares of Steel Dynamics by 100.0% in the fourth quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company's stock worth $46,000 after purchasing an additional 200 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the transaction, the director now owns 81,812 shares of the company's stock, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president now directly owns 125,319 shares of the company's stock, valued at $16,950,647.94. This trade represents a 5.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Steel Dynamics Price Performance

STLD traded up $1.04 on Tuesday, hitting $133.16. 1,098,303 shares of the stock were exchanged, compared to its average volume of 1,537,193. The firm has a market capitalization of $19.77 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.93 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The business has a 50-day moving average of $128.59 and a two-hundred day moving average of $126.52.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.40 by $0.04. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same period in the previous year, the company earned $3.67 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its Board of Directors has approved a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's payout ratio is presently 26.42%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STLD shares. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $135.00 to $145.00 in a research report on Monday, March 31st. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Profile

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.