Generali Investments Management Co LLC Has $502,000 Holdings in Steel Dynamics, Inc. $STLD

Generali Investments Management Co LLC lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 71.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,188 shares of the basic materials company’s stock after selling 5,379 shares during the quarter. Generali Investments Management Co LLC’s holdings in Steel Dynamics were worth $502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its stake in Steel Dynamics by 19.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 44,600 shares of the basic materials company’s stock valued at $10,234,000 after purchasing an additional 7,200 shares during the period. Centurion Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at $274,000. Wealthcare Capital Partners LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at $237,000. Sapient Capital LLC grew its holdings in shares of Steel Dynamics by 34.6% during the second quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock valued at $102,958,000 after buying an additional 115,080 shares in the last quarter. Finally, Tactive Advisors LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at $375,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 2.3%

STLD opened at $268.60 on Tuesday. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The business has a 50-day moving average of $249.65 and a 200-day moving average of $218.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The company has a market capitalization of $38.50 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.50 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.01 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. BMO Capital Markets lifted their target price on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Citigroup upped their target price 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 reduced their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Barclays raised their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.09.

Steel Dynamics 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.