Steel Dynamics, Inc. $STLD Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 71.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,188 shares of the basic materials company’s stock after selling 5,379 shares during the quarter. Generali Investments Management Co LLC’s holdings in Steel Dynamics were worth $502,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in STLD. Life Cycle Investment Partners Ltd acquired a new position in Steel Dynamics during the 4th quarter worth $586,702,000. Norges Bank acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $564,590,000. Boston Partners increased its holdings in shares of Steel Dynamics by 147.9% during the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares during the period. Bessemer Group Inc. raised its stake in shares of Steel Dynamics by 56,088.1% during the first quarter. Bessemer Group Inc. now owns 542,215 shares of the basic materials company’s stock valued at $97,598,000 after purchasing an additional 541,250 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Steel Dynamics by 92.4% in the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock worth $174,609,000 after purchasing an additional 494,828 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 2.3%

Shares of NASDAQ:STLD opened at $268.60 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The stock has a market capitalization of $38.50 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 0.50 and a beta of 1.52. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The company has a 50 day moving average price of $249.65 and a 200 day moving average price of $218.17.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Finally, Bank of America lowered their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $259.09.

Insider Activity

In other news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.60% of the stock is owned by company insiders.

About Steel Dynamics

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.