Steel Dynamics, Inc. $STLD Shares Purchased by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 29.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 36,643 shares of the basic materials company’s stock after purchasing an additional 8,410 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Steel Dynamics were worth $6,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its holdings in shares of Steel Dynamics by 0.3% in 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 purchasing an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $586,702,000. Norges Bank purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $564,590,000. Robeco Institutional Asset Management B.V. raised its position in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after purchasing an additional 116,379 shares during the last quarter. 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 stock has a market cap of $35.76 billion, a P/E ratio of 22.40, a PEG ratio of 0.47 and a beta of 1.53. 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 50-day moving average of $246.36 and a two-hundred day moving average of $211.12.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, topping 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 company had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the firm earned $2.01 EPS. The business’s revenue was up 33.4% on a year-over-year basis. On average, research analysts expect that Steel Dynamics, Inc. will post 17.17 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued 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 of this dividend was Tuesday, June 30th. Steel Dynamics’s payout ratio is 19.22%.

Analysts Set New Price Targets

A number of equities research analysts have commented on STLD shares. Citigroup increased their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company cut their price objective on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays upped their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.36.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

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.