Steel Dynamics, Inc. $STLD Position Decreased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 29.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,470 shares of the basic materials company’s stock after selling 11,090 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Steel Dynamics were worth $4,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Life Cycle Investment Partners Ltd acquired a new stake in Steel Dynamics during the fourth quarter worth about $586,702,000. Norges Bank acquired a new position in Steel Dynamics in the fourth quarter valued at about $564,590,000. Boston Partners increased its position in shares of Steel Dynamics by 147.9% in the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after buying an additional 1,070,042 shares in the last quarter. Hsbc Holdings PLC lifted its stake 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 valued at $174,609,000 after buying an additional 494,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the second quarter worth about $48,746,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. Citigroup boosted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp increased their price objective on Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Bank of America lowered their price target on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.36.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $220.39 on Friday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company’s 50-day moving average is $245.84 and its 200 day moving average is $204.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 0.43 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results 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 company had revenue of $5.20 billion for 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%. Steel Dynamics’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.44 EPS. Sell-side analysts expect that Steel Dynamics, Inc. will post 16.78 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 1.0%. Steel Dynamics’s dividend payout ratio is currently 22.67%.

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.