Mirae Asset Global Investments Co. Ltd. Sells 43,165 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 947,530 shares of the basic materials company's stock after selling 43,165 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.59% of Steel Dynamics worth $111,903,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company's stock valued at $118,787,000 after purchasing an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $14,762,000. Barclays PLC boosted its stake in shares of Steel Dynamics by 3.1% during the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company's stock valued at $38,975,000 after purchasing an additional 10,942 shares during the period. AustralianSuper Pty Ltd lifted its stake in Steel Dynamics by 13.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company's stock worth $60,808,000 after acquiring an additional 59,668 shares during the period. Finally, Summit Global Investments purchased a new stake in Steel Dynamics in the third quarter worth $9,372,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on STLD. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the stock an "underweight" rating in a report on Tuesday, December 12th. UBS Group cut their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating on the stock in a report on Wednesday, January 24th. Finally, BMO Capital Markets increased their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $117.43.

Steel Dynamics Stock Performance

STLD traded up $0.56 during trading on Friday, hitting $147.27. The company's stock had a trading volume of 638,497 shares, compared to its average volume of 1,064,162. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The firm has a market cap of $23.26 billion, a PE ratio of 10.09 and a beta of 1.42. The business's 50 day simple moving average is $132.20 and its 200-day simple moving average is $118.97.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm's revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.37 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 11.37 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.84 annualized dividend and a yield of 1.25%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's payout ratio is presently 12.61%.

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.