Generali Asset Management SPA SGR Sells 3,628 Shares of Steel Dynamics, Inc. $STLD

Generali Asset Management SPA SGR lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 38.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,800 shares of the basic materials company’s stock after selling 3,628 shares during the period. Generali Asset Management SPA SGR’s holdings in Steel Dynamics were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MGO One Seven LLC lifted its holdings in shares of Steel Dynamics by 24.8% during the 4th quarter. MGO One Seven LLC now owns 3,974 shares of the basic materials company’s stock worth $673,000 after acquiring an additional 789 shares during the period. Crestwood Advisors Group LLC lifted its holdings in shares of Steel Dynamics by 2.1% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,420 shares of the basic materials company’s stock worth $749,000 after acquiring an additional 90 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Steel Dynamics by 66.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 10,554 shares of the basic materials company’s stock worth $1,788,000 after acquiring an additional 4,208 shares during the period. Navellier & Associates Inc. lifted its holdings in shares of Steel Dynamics by 267.1% during the 4th quarter. Navellier & Associates Inc. now owns 31,728 shares of the basic materials company’s stock worth $5,376,000 after acquiring an additional 23,084 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Steel Dynamics by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,039 shares of the basic materials company’s stock worth $51,769,000 after acquiring an additional 16,022 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $235.10 on Monday. The company has a market cap of $33.90 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 0.50 and a beta of 1.48. 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 firm has a 50 day simple moving average of $193.25 and a 200 day simple moving average of $179.18. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $243.73.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company 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%. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 EPS. Research analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid 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 0.9%. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $214.30.

About Steel Dynamics

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.