36,677 Shares of Steel Dynamics, Inc. $STLD Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, Holdings Channel.com reports. The firm bought 36,677 shares of the basic materials company’s stock, valued at approximately $8,128,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baird Financial Group Inc. lifted its position in Steel Dynamics by 9.9% in the second quarter. Baird Financial Group Inc. now owns 187,906 shares of the basic materials company’s stock valued at $43,117,000 after purchasing an additional 16,930 shares during the last quarter. Sapient Capital LLC boosted its stake in shares of Steel Dynamics by 34.6% during the second quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock valued at $102,958,000 after purchasing an additional 115,080 shares during the period. BlackRock Inc. purchased a new stake in shares of Steel Dynamics during the second quarter valued at approximately $2,844,501,000. Public Employees Retirement System of Ohio bought a new position in shares of Steel Dynamics in the second quarter worth approximately $10,169,000. Finally, Nykredit A S bought a new position in shares of Steel Dynamics in the second quarter worth approximately $8,596,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, EVP Barry Schneider sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $248.91, for a total value of $12,445,500.00. Following the sale, the executive vice president owned 196,399 shares in the company, valued at approximately $48,885,675.09. This represents a 20.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STLD has been the topic of several analyst reports. UBS Group lifted their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. The Goldman Sachs Group reissued a “buy” rating and set a $299.00 price target (down from $301.00) on shares of Steel Dynamics in a research report on Tuesday, October 20th. JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. BNP Paribas Exane boosted their price objective on shares of Steel Dynamics from $275.00 to $276.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Finally, Morgan Stanley lowered their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.17.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $240.12 on Thursday. The company has a current ratio of 3.14, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $34.15 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.35 and a beta of 1.45. The business has a fifty day simple moving average of $238.91 and a two-hundred day simple moving average of $224.40. Steel Dynamics, Inc. has a 12 month low of $150.03 and a 12 month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, October 19th. The basic materials company reported $5.26 earnings per share for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.22). The business had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.74 earnings per share. On average, equities analysts forecast that Steel Dynamics, Inc. will post 18.12 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is presently 15.65%.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.