Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,406 shares of the basic materials company's stock after acquiring an additional 2,154 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Steel Dynamics were worth $1,893,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter worth about $25,000. ORG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA increased its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares during the last quarter. Brooklyn Investment Group bought a new stake in Steel Dynamics during the third quarter worth approximately $61,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics during the third quarter worth approximately $62,000. 82.41% of the stock is owned by institutional investors.
Steel Dynamics Trading Up 2.2 %
Shares of NASDAQ STLD traded up $2.95 during trading hours on Friday, reaching $135.83. The stock had a trading volume of 1,608,294 shares, compared to its average volume of 1,838,455. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 13.86 and a beta of 1.35. The business's fifty day moving average price is $123.36 and its two-hundred day moving average price is $126.48. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the previous year, the business posted $2.61 earnings per share. Analysts expect that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.
Wall Street Analyst Weigh In
STLD has been the topic of several analyst reports. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Citigroup reduced their price objective on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $146.22.
Read Our Latest Analysis on STLD
Insider Activity at Steel Dynamics
In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is owned by company insiders.
Steel Dynamics Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Steel Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steel Dynamics wasn't on the list.
While Steel Dynamics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
