Lombard Odier Asset Management Europe Ltd cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,760 shares of the basic materials company's stock after selling 12,329 shares during the quarter. Steel Dynamics makes up approximately 0.1% of Lombard Odier Asset Management Europe Ltd's holdings, making the stock its 23rd largest holding. Lombard Odier Asset Management Europe Ltd owned about 0.08% of Steel Dynamics worth $19,757,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Prosperity Bancshares Inc acquired a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the fourth quarter valued at $27,000. Sound Income Strategies LLC raised its holdings in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in Steel Dynamics during the 1st quarter valued at $31,000. Finally, DV Equities LLC acquired a new position in Steel Dynamics during the 4th quarter worth $33,000. 82.41% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
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 business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company's stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company's stock.
Steel Dynamics Price Performance
STLD stock opened at $251.26 on Monday. The stock has a market cap of $36.01 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. The firm's 50-day simple moving average is $248.64 and its 200 day simple moving average is $214.32. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $2.01 EPS. Steel Dynamics's revenue was up 33.4% on a year-over-year basis. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.
Steel Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's dividend payout ratio is 19.22%.
Wall Street Analysts Forecast Growth
STLD has been the subject of several research analyst reports. KeyCorp reissued an "overweight" rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Barclays lifted their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Morgan Stanley reduced their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. Bank of America decreased their target price on Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets upped their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $249.00.
Read Our Latest Analysis on STLD
About Steel Dynamics
(
Free Report)
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.
Further Reading
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