Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $6.37 Million Position in Steel Dynamics, Inc. $STLD

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new position in Steel Dynamics, buying 37,560 shares worth about $6.37 million in the fourth quarter.
• Insider selling was notable, with SVP Richard A. Poinsatte and Director Kenneth W. Cornew both reducing their stakes; insiders sold a total of 12,125 shares last quarter.
• Steel Dynamics reported Q1 earnings of $2.78 per share, slightly below estimates, while revenue came in at $5.20 billion and was up 19.1% year over year. The company also announced a quarterly dividend of $0.53 per share.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 37,560 shares of the basic materials company's stock, valued at approximately $6,365,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Optas LLC grew its holdings in shares of Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 58 shares during the last quarter. Wright Investors Service Inc. grew its holdings in shares of Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after purchasing an additional 64 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Steel Dynamics by 4.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock valued at $246,000 after purchasing an additional 70 shares during the last quarter. Choreo LLC grew its holdings in shares of Steel Dynamics by 3.3% during the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 80 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Steel Dynamics by 2.4% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,468 shares of the basic materials company's stock valued at $484,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company's stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,125 shares of company stock valued at $2,751,227 in the last quarter. Insiders own 6.60% of the company's stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $223.37 on Wednesday. The firm has a market cap of $32.33 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $243.73. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company's fifty day simple moving average is $199.56 and its two-hundred day simple moving average is $183.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly 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). The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics's revenue was up 19.1% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. As a group, equities analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is 22.67%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Bank of America lowered shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 target price on the stock. in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. KeyCorp increased their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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.

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