Fideuram Asset Management Ireland dac Takes $2.10 Million Position in Steel Dynamics, Inc. $STLD

Fideuram Asset Management Ireland dac acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,375 shares of the basic materials company’s stock, valued at approximately $2,097,000.

Several other hedge funds also recently modified their holdings of STLD. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $586,702,000. Boston Partners acquired a new position in shares of Steel Dynamics in the third quarter valued at $101,254,000. Qube Research & Technologies Ltd acquired a new position in shares of Steel Dynamics in the second quarter valued at $48,746,000. Caisse de depot et placement du Quebec raised its stake in shares of Steel Dynamics by 134.9% in the third quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company’s stock valued at $68,779,000 after purchasing an additional 283,300 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Steel Dynamics by 79.1% in the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock valued at $80,332,000 after purchasing an additional 277,166 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,125 shares of company stock worth $2,751,227 over the last three months. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup upped their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company upped their target price on Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Barclays assumed coverage on Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price for the company. Finally, Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $219.36.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $260.15 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock has a fifty day moving average price of $210.75 and a two-hundred day moving average price of $188.49. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $263.09. The firm has a market capitalization of $37.65 billion, a P/E ratio of 27.82, a P/E/G ratio of 0.55 and a beta of 1.48.

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). 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 for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed 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. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

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.