Generali Asset Management SPA SGR Makes New $1.32 Million Investment in Steel Dynamics, Inc. $STLD

Generali Asset Management SPA SGR purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,428 shares of the basic materials company’s stock, valued at approximately $1,315,000.

Other hedge funds have also recently made changes to their positions in the company. Ninety One UK Ltd raised its position in Steel Dynamics by 33.5% in the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock worth $16,712,000 after purchasing an additional 30,102 shares during the period. Mather Group LLC. purchased a new position in shares of Steel Dynamics in the third quarter worth about $148,000. Paradiem LLC lifted its stake in shares of Steel Dynamics by 2.6% in the 3rd quarter. Paradiem LLC now owns 92,517 shares of the basic materials company’s stock valued at $12,900,000 after acquiring an additional 2,342 shares during the last quarter. Blue Trust Inc. boosted its holdings in Steel Dynamics by 30.9% during the 3rd quarter. Blue Trust Inc. now owns 1,107 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 261 shares during the period. Finally, VCI Wealth Management LLC purchased a new stake in Steel Dynamics during the 3rd quarter valued at about $957,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Up 3.9%

Shares of STLD opened at $176.06 on Monday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $178.36. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The firm’s 50-day moving average price is $164.49 and its 200-day moving average price is $144.67. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 0.73 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $2.05 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s payout ratio is currently 26.49%.

Analysts Set New Price Targets

STLD has been the subject of several recent research reports. KeyCorp boosted their price objective on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Citigroup increased their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $176.89.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by insiders.

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.