MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Steel Dynamics, Inc. $STLD

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,046,791 shares of the basic materials company’s stock after acquiring an additional 10,537 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.72% of Steel Dynamics worth $145,953,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Steel Dynamics by 3.3% in the second quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after purchasing an additional 230,582 shares during the last quarter. Norges Bank purchased a new stake in shares of Steel Dynamics during the second quarter valued at $339,769,000. Nordea Investment Management AB increased its holdings in Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after buying an additional 252,108 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Steel Dynamics by 15.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after buying an additional 260,104 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Steel Dynamics by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock worth $180,620,000 after buying an additional 5,317 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STLD has been the subject of several research reports. KeyCorp reissued an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, Wall Street Zen downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.22.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $174.28 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $25.25 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. The firm’s 50 day moving average price is $184.86 and its 200-day moving average price is $164.56. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is presently 24.97%.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.