Lombard Odier Asset Management Europe Ltd Buys 14,707 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Lombard Odier Asset Management Europe Ltd raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 27.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,864 shares of the basic materials company’s stock after purchasing an additional 14,707 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Steel Dynamics were worth $8,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in Steel Dynamics in the first quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new position in Steel Dynamics in the 1st quarter worth $26,000. Security National Bank purchased a new stake in Steel Dynamics during the fourth quarter valued at about $30,000. Innealta Capital LLC bought a new position in shares of Steel Dynamics during the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics in the second quarter worth about $41,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. Bank of America decreased their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price target for the company from $120.00 to $131.00 in a research report on Monday, September 9th. Morgan Stanley decreased their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, BMO Capital Markets lowered their price target on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $119.83 on Monday. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The stock’s 50 day simple moving average is $120.11 and its two-hundred day simple moving average is $129.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 8.23 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.81 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.