9,428 Shares in Steel Dynamics, Inc. $STLD Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,428 shares of the basic materials company’s stock, valued at approximately $1,315,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Trust Co. of Toledo NA OH purchased a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $30,000. Rosenberg Matthew Hamilton boosted its holdings in Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 199 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 100 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Steel Dynamics in the 2nd quarter worth about $50,000. 82.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, UBS Group set a $165.00 price objective on Steel Dynamics in a research report on Tuesday, November 4th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.89.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $176.06 on Monday. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $164.49 and a 200-day moving average price of $144.67. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $178.36. The firm has a market capitalization of $25.71 billion, a PE ratio of 23.32, a P/E/G ratio of 0.73 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

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.