Lombard Odier Asset Management Switzerland SA Invests $4.78 Million in Steel Dynamics, Inc. $STLD

Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,233 shares of the basic materials company’s stock, valued at approximately $4,784,000.

Several other hedge funds and other institutional investors also recently modified their holdings of STLD. Life Cycle Investment Partners Ltd purchased a new position in shares of Steel Dynamics during the fourth quarter worth about $586,702,000. Norges Bank purchased a new position in Steel Dynamics in the fourth quarter worth $564,590,000. Boston Partners grew its position in Steel Dynamics by 147.9% in the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock worth $303,970,000 after acquiring an additional 1,070,042 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Steel Dynamics in the second quarter worth $48,746,000. Finally, Lord Abbett & CO. LLC grew its position in Steel Dynamics by 28.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,629,401 shares of the basic materials company’s stock worth $276,102,000 after acquiring an additional 356,507 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $274.29 on Wednesday. The company has a 50-day simple moving average of $234.47 and a two-hundred day simple moving average of $198.46. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The firm has a market cap of $39.70 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 0.54 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 for 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 business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the company posted $1.44 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 15.85 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

Analyst Ratings Changes

Several research analysts recently issued reports on STLD shares. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. KeyCorp upped their target price on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company upped their target price on Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Finally, Bank of America lowered Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price for the company. in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $224.64.

Insider Buying and Selling

In other 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 sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,125 shares of company stock worth $5,438,227. 6.60% of the stock is owned by company insiders.

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.