Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 14,252 shares of the basic materials company’s stock after purchasing an additional 1,327 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Steel Dynamics were worth $1,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of STLD. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $41,000. Cullen Frost Bankers Inc. raised its stake in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in Steel Dynamics in the second quarter worth about $52,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 1.7 %

Shares of Steel Dynamics stock opened at $130.50 on Friday. The business’s fifty day moving average price is $123.25 and its two-hundred day moving average price is $126.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The company has a market capitalization of $20.14 billion, a P/E ratio of 11.81 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $104.08 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.47 EPS. As a group, research analysts forecast that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is currently 16.65%.

Analyst Ratings Changes

Several research firms have recently commented on STLD. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $144.29.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the transaction, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.

About Steel Dynamics

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.