Eurizon Capital SGR S.p.A. Makes New $16.74 Million Investment in Steel Dynamics, Inc. $STLD

Eurizon Capital SGR S.p.A. bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, Holdings Channel.com reports. The firm bought 98,759 shares of the basic materials company’s stock, valued at approximately $16,736,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STLD. NewEdge Advisors LLC grew its holdings in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 618 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares during the period. Jump Financial LLC purchased a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $1,019,000. Qube Research & Technologies Ltd bought a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $48,746,000. Finally, Sei Investments Co. grew its stake in shares of Steel Dynamics by 7.9% in the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after buying an additional 7,712 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

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

Steel Dynamics Stock Performance

STLD stock opened at $260.15 on Monday. The stock has a market capitalization of $37.65 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 0.55 and a beta of 1.50. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $263.09. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $210.75 and its 200 day simple moving average is $188.75.

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

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics’s payout ratio is currently 22.67%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on STLD shares. Wells Fargo & Company boosted their target price on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Finally, Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price on the stock. in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.36.

Steel Dynamics 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.