Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,152,812 shares of the basic materials company’s stock after acquiring an additional 84,716 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.76% of Steel Dynamics worth $131,501,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in STLD. Focus Partners Wealth acquired a new position in Steel Dynamics in the fourth quarter valued at approximately $654,000. Deutsche Bank AG boosted its stake in Steel Dynamics by 39.0% during the 4th quarter. Deutsche Bank AG now owns 783,849 shares of the basic materials company’s stock valued at $89,414,000 after purchasing an additional 219,787 shares during the period. Drummond Knight Asset Management Pty Ltd acquired a new position in Steel Dynamics during the 4th quarter valued at about $14,829,000. Cornerstone Select Advisors LLC acquired a new position in Steel Dynamics during the 4th quarter valued at about $518,000. Finally, Crestline Management LP boosted its stake in Steel Dynamics by 728.7% during the 4th quarter. Crestline Management LP now owns 92,125 shares of the basic materials company’s stock valued at $10,509,000 after purchasing an additional 81,008 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.7%

Shares of STLD stock opened at $130.52 on Monday. The firm has a market capitalization of $19.56 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm’s fifty day simple moving average is $123.59 and its 200 day simple moving average is $128.11.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.04. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the company posted $3.67 EPS. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 1.53%. Steel Dynamics’s dividend payout ratio is 26.42%.

Steel Dynamics announced that its board has authorized a share buyback program on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $147.44.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

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.