CCM Investment Group LLC Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• CCM Investment Group LLC has acquired a new position in Steel Dynamics, Inc., purchasing 16,016 shares valued at approximately $1.98 million in the first quarter.
• In recent insider trading, SVP Christopher A. Graham sold 12,000 shares for over $1.5 million, reducing his ownership by 15.24%.
• Analysts have differing views on Steel Dynamics, with price targets ranging from $145 to $150, and the stock currently holds an average rating of "Moderate Buy".

CCM Investment Group LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,016 shares of the basic materials company's stock, valued at approximately $1,977,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of Steel Dynamics during the 1st quarter worth $62,470,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Steel Dynamics during the 1st quarter valued at about $2,405,000. Cynosure Group LLC raised its position in Steel Dynamics by 10.5% during the first quarter. Cynosure Group LLC now owns 2,685 shares of the basic materials company's stock worth $336,000 after acquiring an additional 256 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. Finally, Townsquare Capital LLC grew its position in shares of Steel Dynamics by 340.6% in the first quarter. Townsquare Capital LLC now owns 9,384 shares of the basic materials company's stock valued at $1,174,000 after purchasing an additional 7,254 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 66,738 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president owned 125,319 shares in the company, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,749 shares of company stock valued at $2,702,468. Company insiders own 6.30% of the company's stock.

Steel Dynamics Trading Down 2.1%

Steel Dynamics stock traded down $2.77 during trading on Thursday, reaching $126.47. The company had a trading volume of 344,391 shares, compared to its average volume of 1,626,183. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The stock's 50 day moving average price is $129.86 and its two-hundred day moving average price is $128.21. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.02 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.72 earnings per share. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company started coverage on Steel Dynamics in a research report on Wednesday. They set an "overweight" rating and a $143.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Morgan Stanley upped their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $148.70.

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.