Mediolanum International Funds Ltd Acquires 15,870 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Mediolanum International Funds Ltd increased its stake in Steel Dynamics, Inc. by 23.5%, owning 83,519 shares valued at approximately $10.35 million after acquiring 15,870 additional shares in Q1.
• Wall Street analysts have mixed ratings for Steel Dynamics, with an average target price of $149.33, and ratings ranging from "sell" to "overweight" based on recent reports.
• Steel Dynamics recently announced a quarterly dividend of $0.50, resulting in an annualized dividend yield of 1.53% and a payout ratio of 29.15%.

Mediolanum International Funds Ltd boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 23.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,519 shares of the basic materials company's stock after acquiring an additional 15,870 shares during the period. Mediolanum International Funds Ltd owned about 0.06% of Steel Dynamics worth $10,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. acquired a new position in shares of Steel Dynamics in the first quarter valued at approximately $25,000. Grove Bank & Trust grew its holdings in Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 183 shares during the period. Wayfinding Financial LLC purchased a new stake in Steel Dynamics in the first quarter valued at approximately $36,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Steel Dynamics during the first quarter worth approximately $38,000. Finally, Investment Management Corp VA ADV purchased a new stake in Steel Dynamics during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

STLD has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $149.33.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the transaction, the director directly owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president directly owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

STLD stock traded up $0.54 during midday trading on Wednesday, hitting $128.06. 253,975 shares of the company traded hands, compared to its average volume of 1,650,464. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $130.99 and a 200-day simple moving average of $128.22. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The company's revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.72 EPS. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.