Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,570 shares of the basic materials company’s stock after acquiring an additional 2,164 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Steel Dynamics were worth $2,302,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in Steel Dynamics by 41.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company’s stock valued at $433,000 after purchasing an additional 1,119 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Steel Dynamics by 24.4% during the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Steel Dynamics by 10.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 145 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Steel Dynamics by 63.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company’s stock valued at $839,000 after purchasing an additional 2,854 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Steel Dynamics by 31.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock valued at $3,441,000 after purchasing an additional 6,604 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $131.97 on Friday. The stock has a market cap of $19.59 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37. The business has a fifty day simple moving average of $131.09 and a 200-day simple moving average of $126.15. The company has a quick ratio of 1.38, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same quarter last year, the firm posted $3.67 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. Steel Dynamics’s dividend payout ratio is 26.42%.

Insider Buying and Selling at Steel Dynamics

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STLD shares. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, March 24th. Wall Street Zen lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. BMO Capital Markets raised Steel Dynamics from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.