Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 13.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,570 shares of the basic materials company's stock after buying an additional 2,164 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Steel Dynamics were worth $2,302,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Forum Financial Management LP boosted its holdings in shares of Steel Dynamics by 2.5% during the 4th quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after buying an additional 75 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Steel Dynamics by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after buying an additional 91 shares in the last quarter. OneAscent Financial Services LLC boosted its holdings in shares of Steel Dynamics by 2.2% during the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock valued at $527,000 after buying an additional 101 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Steel Dynamics by 6.3% during the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after buying an additional 102 shares in the last quarter. Finally, Optas LLC boosted its stake in Steel Dynamics by 7.1% in the 1st quarter. Optas LLC now owns 1,911 shares of the basic materials company's stock worth $239,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

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

Steel Dynamics Stock Performance

STLD traded down $2.10 during midday trading on Friday, hitting $131.97. 1,496,134 shares of the company traded hands, compared to its average volume of 1,539,145. The company has a quick ratio of 1.38, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $19.59 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The company's 50-day moving average is $131.19 and its 200 day moving average is $126.31. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same quarter in the prior year, the business earned $3.67 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

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

Steel Dynamics 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.