Lombard Odier Asset Management Europe Ltd Invests $12.34 Million in Steel Dynamics, Inc. $STLD

Lombard Odier Asset Management Europe Ltd purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 53,786 shares of the basic materials company’s stock, valued at approximately $12,342,000.

A number of other hedge funds have also modified their holdings of STLD. Prosperity Bancshares Inc acquired a new position in Steel Dynamics during the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in Steel Dynamics in the second quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the fourth quarter worth $27,000. Cedar Mountain Advisors LLC acquired a new stake in Steel Dynamics in the first quarter worth $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth $33,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STLD has been the subject of several research analyst reports. UBS Group boosted their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Barclays upped their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Bank of America cut their price target 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. Finally, Wells Fargo & Company decreased their target price on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, August 24th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.27.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $234.66 on Friday. The company has a market cap of $33.63 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a fifty-two week low of $126.88 and a fifty-two week high of $288.74. The stock has a fifty day moving average price of $242.07 and a 200-day moving average price of $223.62.

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

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given 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 is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.