53,786 Shares in Steel Dynamics, Inc. $STLD Bought by Lombard Odier Asset Management Europe Ltd

Key Points

• Lombard Odier Asset Management Europe acquired 53,786 Steel Dynamics shares worth approximately $12.3 million, while institutional investors collectively own 82.41% of the company.
• Steel Dynamics reported quarterly EPS of $3.69, exceeding estimates of $3.63, with revenue of $6.09 billion—up 33.4% year over year. The company also declared a $0.53 quarterly dividend, yielding about 0.9% annually.
• Analysts maintain a Moderate Buy consensus with an average price target of $257.27; shares opened at $234.66, while targets range from $255 to $300.

Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 53,786 shares of the basic materials company's stock, valued at approximately $12,342,000.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Steel Dynamics in the 2nd quarter worth approximately $2,844,501,000. Capital Research Global Investors boosted its position 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 acquiring an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $586,702,000. Norges Bank acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $564,590,000. Finally, Invesco Ltd. increased its position in Steel Dynamics by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock worth $332,985,000 after acquiring an additional 116,379 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Down 0.5%

STLD stock opened at $234.66 on Friday. 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 market capitalization of $33.63 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 0.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The business has a fifty day moving average price of $242.07 and a 200 day moving average price of $223.62.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. Analysts expect that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics's payout ratio is currently 19.22%.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STLD. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They issued a "buy" rating and a $300.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. UBS Group upped their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company reduced their target price on shares of Steel Dynamics from $275.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, August 24th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.27.

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.

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