Lombard Odier Asset Management Europe Ltd Trims Holdings in Steel Dynamics, Inc. $STLD

Lombard Odier Asset Management Europe Ltd trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 122,089 shares of the basic materials company’s stock after selling 44,640 shares during the quarter. Steel Dynamics makes up 1.0% of Lombard Odier Asset Management Europe Ltd’s portfolio, making the stock its 22nd largest position. Lombard Odier Asset Management Europe Ltd’s holdings in Steel Dynamics were worth $20,688,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in STLD. Jacobi Capital Management LLC grew its holdings in Steel Dynamics by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after buying an additional 55 shares in the last quarter. Optas LLC lifted its holdings in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in shares of Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after acquiring an additional 61 shares during the period. Wright Investors Service Inc. boosted its position in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after acquiring an additional 64 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Steel Dynamics by 4.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of analyst reports. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Barclays assumed coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company boosted their target price on Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus target price of $224.64.

Steel Dynamics Trading Up 0.8%

NASDAQ STLD opened at $274.29 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $234.47 and its two-hundred day simple moving average is $198.46. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The company has a market capitalization 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 posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 15.85 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

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

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on 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 transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,125 shares of company stock valued at $5,438,227. 6.60% of the stock is owned by 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.