Fideuram Intesa Sanpaolo Private Banking S.P.A. Sells 11,090 Shares of Steel Dynamics, Inc. $STLD

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 29.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,470 shares of the basic materials company’s stock after selling 11,090 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Steel Dynamics were worth $4,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in shares of Steel Dynamics by 0.3% in the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after purchasing an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd purchased a new stake in Steel Dynamics during the 4th quarter valued at $586,702,000. Norges Bank purchased a new stake in Steel Dynamics during the 4th quarter valued at $564,590,000. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after buying an additional 72,122 shares during the last quarter. Finally, Invesco Ltd. increased its position in Steel Dynamics by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock valued at $332,985,000 after acquiring an additional 116,379 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD stock opened at $220.39 on Friday. The stock’s 50-day simple moving average is $245.84 and its 200-day simple moving average is $204.81. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. 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 firm has a market capitalization of $31.89 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 0.43 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 16.78 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm 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 1.0%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $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 is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,125 shares of company stock valued at $5,438,226 over the last quarter. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. KeyCorp increased their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Citigroup raised their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Bank of America cut their target price on Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $236.36.

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.