American International Group Inc. Lowers Position in Steel Dynamics, Inc. (STLD)

American International Group Inc. lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 457,935 shares of the basic materials company’s stock after selling 10,035 shares during the period. American International Group Inc.’s holdings in Steel Dynamics were worth $16,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $27,000. Ffcm LLC boosted its stake in shares of Steel Dynamics by 59.3% during the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 344 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Steel Dynamics by 36.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Steel Dynamics by 183.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 729 shares in the last quarter. Finally, JOYN Advisors Inc. boosted its stake in shares of Steel Dynamics by 34.7% during the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Steel Dynamics stock opened at $31.08 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.02 and a quick ratio of 2.15. Steel Dynamics, Inc. has a 1 year low of $28.91 and a 1 year high of $52.10. The company has a market cap of $6.91 billion, a P/E ratio of 5.66, a P/E/G ratio of 0.68 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 3.79 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. BidaskClub lowered Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 13th. Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Macquarie set a $36.00 price target on Steel Dynamics and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.50 to $47.00 in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.64.

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Steel Dynamics 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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