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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service increased its stake in shares of Steel Dynamics by 513.7% in the fourth quarter. National Pension Service now owns 288,248 shares of the basic materials company’s stock valued at $48,844,000 after buying an additional 241,279 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Steel Dynamics by 141.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,258 shares of the basic materials company’s stock valued at $721,000 after acquiring an additional 2,494 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in Steel Dynamics in the fourth quarter valued at about $71,000. Kingsview Wealth Management LLC boosted its holdings in Steel Dynamics by 11.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,579 shares of the basic materials company’s stock valued at $1,284,000 after acquiring an additional 761 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in Steel Dynamics by 93.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 30,808 shares of the basic materials company’s stock valued at $5,220,000 after acquiring an additional 14,873 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of STLD opened at $260.15 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $263.09. The stock has a market cap of $37.65 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. The stock’s 50-day moving average price is $210.75 and its two-hundred day moving average price is $188.49.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.39 billion. During the same quarter last year, the business posted $1.44 EPS. Steel Dynamics’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Dividend Announcement

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 issued 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 dividend payout ratio (DPR) is 22.67%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the firm’s 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,125 shares of company stock worth $2,751,227. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STLD shares. Citigroup raised their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Wells Fargo & Company raised their price target on Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and an average target price of $219.36.

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.