Campbell & CO Investment Adviser LLC Has $736,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Campbell & CO Investment Adviser LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 125.5% in the 3rd quarter, Holdings Channel reports. The fund owned 6,860 shares of the basic materials company’s stock after buying an additional 3,818 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Steel Dynamics were worth $736,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in STLD. Wellington Shields & Co. LLC grew its stake in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Clearstead Advisors LLC bought a new position in shares of Steel Dynamics during the 3rd quarter worth $35,000. Clear Street Markets LLC grew its stake in shares of Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares during the period. Coppell Advisory Solutions LLC bought a new position in shares of Steel Dynamics during the 2nd quarter worth $40,000. Finally, Providence Capital Advisors LLC grew its stake in shares of Steel Dynamics by 11,205.0% during the 1st quarter. Providence Capital Advisors LLC now owns 4,522 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 4,482 shares during the period. Institutional investors own 81.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on STLD. Morgan Stanley raised their target price on Steel Dynamics from $99.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 31st. UBS Group cut their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on Steel Dynamics from $95.00 to $98.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $112.75.

Read Our Latest Report on STLD

Insider Buying and Selling at Steel Dynamics

In related news, Director James C. Marcuccilli sold 25,454 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $122.43, for a total transaction of $3,116,333.22. Following the transaction, the director now directly owns 59,989 shares of the company’s stock, valued at approximately $7,344,453.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $124.99 on Friday. The business’s 50-day moving average price is $117.80 and its two-hundred day moving average price is $110.14. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $136.46. The stock has a market cap of $20.23 billion, a P/E ratio of 8.57 and a beta of 1.40. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLDGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the business earned $4.37 EPS. The business’s revenue was down 12.3% on a year-over-year basis. As a group, equities analysts predict that Steel Dynamics, Inc. will post 10.73 EPS for the current fiscal year.

Steel Dynamics declared that its board has initiated a stock repurchase program on Friday, November 3rd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Steel Dynamics Profile

(Free Report)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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