Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $6.37 Million in Steel Dynamics, Inc. $STLD

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 37,560 shares of the basic materials company’s stock, valued at approximately $6,365,000.

Several other institutional investors and hedge funds have also recently modified their holdings of STLD. Cornerstone Planning Group LLC lifted its position in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares during the period. Sound Income Strategies LLC lifted its position in Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Torren Management LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $34,000. Covestor Ltd lifted its position in Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares during the period. Finally, Nvest Wealth Strategies Inc. purchased a new position in Steel Dynamics during the 4th quarter valued at about $42,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $223.37 on Wednesday. The company has a 50 day moving average price of $199.56 and a 200-day moving average price of $183.56. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $243.73. The firm has a market capitalization of $32.33 billion, a PE ratio of 23.89, a P/E/G ratio of 0.49 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s payout ratio is 22.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STLD shares. Citigroup lifted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Morgan Stanley reissued an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets lifted their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $214.30.

Insider Activity at Steel Dynamics

In related news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is owned by company insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.