Steel Dynamics, Inc. $STLD Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 109,760 shares of the basic materials company’s stock after selling 12,329 shares during the quarter. Steel Dynamics accounts for about 1.1% of Lombard Odier Asset Management Europe Ltd’s holdings, making the stock its 22nd biggest position. Lombard Odier Asset Management Europe Ltd’s holdings in Steel Dynamics were worth $19,757,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Steel Dynamics in the first quarter valued at approximately $301,000. Waverly Advisors LLC increased its holdings in shares of Steel Dynamics by 36.4% in the 1st quarter. Waverly Advisors LLC now owns 2,935 shares of the basic materials company’s stock valued at $528,000 after acquiring an additional 783 shares during the period. Sustainable Insight Capital Management LLC increased its holdings in shares of Steel Dynamics by 86.8% in the 1st quarter. Sustainable Insight Capital Management LLC now owns 23,237 shares of the basic materials company’s stock valued at $4,183,000 after acquiring an additional 10,800 shares during the period. Klingman & Associates LLC purchased a new stake in Steel Dynamics in the 1st quarter valued at $234,000. Finally, Volterra Technologies LP purchased a new stake in Steel Dynamics in the 1st quarter valued at $347,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $247.11 on Friday. The firm’s fifty day moving average price is $246.36 and its 200 day moving average price is $211.12. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.33. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 0.47 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.01 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 17.17 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is 19.22%.

Insider Activity

In related news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were 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 directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STLD. Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday. Bank of America decreased their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a report on Wednesday. Finally, Citigroup boosted their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.36.

About Steel Dynamics

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.