Lombard Odier Asset Management Europe Ltd Has $20.69 Million Stake in Steel Dynamics, Inc. $STLD

Lombard Odier Asset Management Europe Ltd reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,089 shares of the basic materials company’s stock after selling 44,640 shares during the period. Steel Dynamics makes up 1.0% of Lombard Odier Asset Management Europe Ltd’s investment portfolio, making the stock its 22nd largest holding. Lombard Odier Asset Management Europe Ltd owned about 0.08% of Steel Dynamics worth $20,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after buying an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the 4th quarter worth about $586,702,000. Norges Bank bought a new position in Steel Dynamics in the 4th quarter valued at about $564,590,000. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after acquiring an additional 72,122 shares in the last quarter. Finally, Boston Partners boosted its stake in Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the topic of several analyst reports. Citigroup lifted their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company raised their price objective on Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a report on Thursday, April 30th. Finally, KeyCorp upped their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.64.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $274.29 on Wednesday. The company has a market capitalization of $39.70 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 0.54 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74. The company has a 50-day simple moving average of $234.47 and a 200 day simple moving average of $198.46.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 15.85 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Transactions at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,125 shares of company stock worth $5,438,227 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.