Campbell & CO Investment Adviser LLC Has $1.84 Million Position in Steel Dynamics, Inc. $STLD

by · The Markets Daily

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC raised its holdings in Steel Dynamics by 5.4% in the first quarter. Cerity Partners LLC now owns 77,507 shares of the basic materials company’s stock worth $9,694,000 after purchasing an additional 3,959 shares during the period. Ballentine Partners LLC acquired a new stake in Steel Dynamics during the 1st quarter worth $248,000. Kathmere Capital Management LLC raised its stake in Steel Dynamics by 9.5% during the 1st quarter. Kathmere Capital Management LLC now owns 2,720 shares of the basic materials company’s stock worth $340,000 after buying an additional 236 shares during the period. New York State Common Retirement Fund lifted 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 acquiring an additional 12,500 shares in the last quarter. Finally, CWM LLC grew its stake in Steel Dynamics by 108.7% in the first quarter. CWM LLC now owns 8,330 shares of the basic materials company’s stock valued at $1,042,000 after acquiring an additional 4,338 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Up 0.3%

NASDAQ:STLD opened at $152.43 on Tuesday. The company has a market cap of $22.26 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $164.73. The business has a 50 day moving average price of $143.66 and a two-hundred day moving average price of $134.95. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $2.05 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on STLD shares. Jefferies Financial Group raised their price target on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Citigroup increased their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research note on Tuesday, November 4th. Wells Fargo & Company upped their price target on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the stock a “neutral” rating in a report on Friday, October 31st. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $170.11.

Check Out Our Latest Analysis on Steel Dynamics

About Steel Dynamics

(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.

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