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

Key Points

• Lombard Odier Asset Management Switzerland SA increased its Steel Dynamics stake by 29.8% in the first quarter, buying 8,410 additional shares to bring its total to 36,643 shares worth about $6.6 million.
• Steel Dynamics reported strong quarterly results, with EPS of $3.69 and revenue of $6.09 billion, both ahead of analyst expectations. Revenue also rose 33.4% year over year.
• Analysts remain mixed but constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $237.36, though several firms recently trimmed their targets.

Lombard Odier Asset Management Switzerland SA raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 29.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,643 shares of the basic materials company's stock after purchasing an additional 8,410 shares during the quarter. 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 institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC raised its stake in shares of Steel Dynamics by 1.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company's stock worth $599,000 after purchasing an additional 55 shares during the last quarter. Optas LLC grew its position in Steel Dynamics by 3.0% in the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after buying an additional 58 shares during the last quarter. Hohimer Wealth Management LLC grew its position in Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company's stock valued at $967,000 after buying an additional 61 shares during the last quarter. Wright Investors Service Inc. increased its stake in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after buying an additional 64 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Steel Dynamics by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company's stock valued at $431,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling

In other news, SVP James Stanley Anderson sold 10,000 shares of the business'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 transaction of $2,687,000.00. Following the sale, the senior vice president 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on STLD shares. Wells Fargo & Company reduced their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an "overweight" rating for the company in a research note on Wednesday. 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 report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley dropped their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Barclays increased their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.36.

Steel Dynamics Stock Performance

Shares of STLD opened at $247.11 on Friday. The company has a 50-day simple moving average of $246.36 and a 200-day simple moving average of $211.12. The company has a quick ratio of 1.33, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $35.76 billion, a PE ratio of 22.40, a P/E/G ratio of 0.47 and a beta of 1.53. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion during the quarter, compared to analysts' expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 17.17 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were 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 was Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 19.22%.

About Steel Dynamics

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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