Steel Dynamics, Inc. $STLD Stake Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,313 shares of the basic materials company’s stock after acquiring an additional 743 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Steel Dynamics were worth $2,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after purchasing an additional 484,304 shares during the period. Ninety One UK Ltd increased its stake in shares of Steel Dynamics by 0.8% in the second quarter. Ninety One UK Ltd now owns 89,761 shares of the basic materials company’s stock valued at $11,490,000 after purchasing an additional 687 shares during the period. HB Wealth Management LLC raised its stake in shares of Steel Dynamics by 9.7% during the second quarter. HB Wealth Management LLC now owns 5,446 shares of the basic materials company’s stock valued at $697,000 after purchasing an additional 483 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Steel Dynamics by 0.7% during the second quarter. Janney Montgomery Scott LLC now owns 23,906 shares of the basic materials company’s stock valued at $3,060,000 after purchasing an additional 175 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of Steel Dynamics by 4.0% during the second quarter. Oakworth Capital Inc. now owns 3,871 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $142.73 on Wednesday. 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 stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.15 and a beta of 1.40. The stock’s fifty day simple moving average is $132.09 and its 200 day simple moving average is $129.56. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.72 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics’s payout ratio is currently 29.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STLD shares. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research report on Saturday, September 27th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $148.78.

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.