Steel Dynamics, Inc. $STLD Shares Acquired by Callan Family Office LLC

Callan Family Office LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 155.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,593 shares of the basic materials company’s stock after acquiring an additional 3,400 shares during the period. Callan Family Office LLC’s holdings in Steel Dynamics were worth $716,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Steel Dynamics by 10.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock worth $190,000 after buying an additional 145 shares during the last quarter. GAMMA Investing LLC raised its holdings in Steel Dynamics by 47.9% during the first quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 1,159 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Steel Dynamics by 14.7% during the first quarter. Assenagon Asset Management S.A. now owns 25,025 shares of the basic materials company’s stock worth $3,130,000 after purchasing an additional 3,216 shares in the last quarter. Fifth Third Bancorp raised its holdings in Steel Dynamics by 13.2% during the first quarter. Fifth Third Bancorp now owns 6,956 shares of the basic materials company’s stock worth $870,000 after purchasing an additional 809 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock worth $3,441,000 after purchasing an additional 6,604 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on STLD shares. Morgan Stanley boosted their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Wells Fargo & Company boosted their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and an average target price of $149.89.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

NASDAQ STLD opened at $145.54 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $133.73 and a 200 day simple moving average of $130.09. The company has a market cap of $21.42 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.15 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.Steel Dynamics’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.72 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is presently 29.15%.

Steel Dynamics Profile

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.