Steel Dynamics, Inc. $STLD Holdings Lowered by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,760 shares of the basic materials company’s stock after selling 12,329 shares during the period. Steel Dynamics accounts for approximately 0.1% of Lombard Odier Asset Management Europe Ltd’s holdings, making the stock its 23rd 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.

A number of other institutional investors also recently made changes to their positions in STLD. NewEdge Advisors LLC increased its stake in shares of Steel Dynamics by 307.5% during the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares during the period. Acadian Asset Management LLC lifted its position in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares during the period. Jump Financial LLC bought a new position in Steel Dynamics during the 2nd quarter valued at $1,019,000. Qube Research & Technologies Ltd bought a new position in Steel Dynamics during the 2nd quarter valued at $48,746,000. Finally, Sei Investments Co. increased its position in shares of Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after purchasing an additional 7,712 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $251.26 on Monday. The stock’s fifty day simple moving average is $248.64 and its 200 day simple moving average is $214.32. The stock has a market capitalization of $36.01 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.47 and a beta of 1.52. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the prior year, the business posted $2.01 earnings per share. Steel Dynamics’s revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio is presently 19.22%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their target price on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.00.

Steel Dynamics 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.