SG Americas Securities LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 76.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,117 shares of the basic materials company’s stock after buying an additional 50,666 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Steel Dynamics worth $3,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Empirical Finance LLC lifted its holdings in shares of Steel Dynamics by 1.1% in the 2nd quarter. Empirical Finance LLC now owns 32,950 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 363 shares in the last quarter. Magnus Financial Group LLC lifted its stake in Steel Dynamics by 4.5% during the 1st quarter. Magnus Financial Group LLC now owns 9,299 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 400 shares in the last quarter. Raymond James Trust N.A. lifted its stake in Steel Dynamics by 5.9% during the 1st quarter. Raymond James Trust N.A. now owns 8,046 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 449 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Steel Dynamics by 2.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 24,062 shares of the basic materials company’s stock valued at $849,000 after acquiring an additional 461 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Steel Dynamics by 4.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 12,200 shares of the basic materials company’s stock valued at $430,000 after acquiring an additional 500 shares in the last quarter. 80.91% of the stock is owned by institutional investors.

In other news, insider Glenn Pushis acquired 5,740 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $26.13 per share, with a total value of $149,986.20. Following the acquisition, the insider now owns 91,289 shares in the company, valued at approximately $2,385,381.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Shaheen acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $27.03 per share, with a total value of $135,150.00. Following the acquisition, the director now owns 58,635 shares in the company, valued at approximately $1,584,904.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 12,740 shares of company stock valued at $336,296. Insiders own 4.90% of the company’s stock.

Several brokerages have weighed in on STLD. BMO Capital Markets raised their price objective on Steel Dynamics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.50 to $47.00 in a research note on Wednesday, May 8th. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $30.00 to $34.00 in a research note on Wednesday, July 24th. Macquarie set a $36.00 price objective on Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Goldman Sachs Group dropped their price objective on Steel Dynamics from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $39.67.

Shares of Steel Dynamics stock opened at $27.21 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $25.02 and a 1 year high of $48.17. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 0.74 and a beta of 1.62. The company’s fifty day simple moving average is $30.34. The company has a current ratio of 4.35, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 22nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.02). Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $1.53 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 3.19 EPS for the current fiscal year.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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