Campbell & CO Investment Adviser LLC Purchases 10,063 Shares of Steel Dynamics, Inc. $STLD

Campbell & CO Investment Adviser LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 234.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,361 shares of the basic materials company’s stock after buying an additional 10,063 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Steel Dynamics were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of Steel Dynamics by 5.4% in the 1st quarter. Cerity Partners LLC now owns 77,507 shares of the basic materials company’s stock valued at $9,694,000 after acquiring an additional 3,959 shares during the period. Ballentine Partners LLC acquired a new stake in Steel Dynamics in the 1st quarter valued at about $248,000. Kathmere Capital Management LLC lifted its stake in Steel Dynamics by 9.5% in the 1st quarter. Kathmere Capital Management LLC now owns 2,720 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 236 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Steel Dynamics by 15.1% during the first quarter. New York State Common Retirement Fund now owns 95,112 shares of the basic materials company’s stock worth $11,897,000 after purchasing an additional 12,500 shares during the period. Finally, CWM LLC increased its position in Steel Dynamics by 108.7% during the first quarter. CWM LLC now owns 8,330 shares of the basic materials company’s stock worth $1,042,000 after buying an additional 4,338 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STLD. Wells Fargo & Company raised their price objective on Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research report on Tuesday, November 4th. Finally, Morgan Stanley raised their target price on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.11.

Steel Dynamics Trading Up 0.3%

STLD stock opened at $152.43 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. The company’s 50-day simple moving average is $143.66 and its 200 day simple moving average is $134.95. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $164.73. The company has a market capitalization of $22.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s payout ratio is presently 26.49%.

Insider Activity

In related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.30% of the company’s stock.

About Steel Dynamics

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.