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Sims Ltd ASX:SGM

2 opened or increased6 held2 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 10 managers in total.

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20252026

30 Jun 2024 to today

Commentary Showing 2 of 26

DateManagerActionSummary

4 Sep 2026NorthStar Impact FundsIncreasedNorthStar Impact Funds increased its position in Sims, topping up the holding into the post-result share price weakness. The manager notes steel remains a strong end-market in the United States, and views the guidance weakness in the newer Sims Lifecycle Services division, which drove the share price reaction on results day, as a first-half timing issue tied to variability in data centre decommissioning schedules rather than a structural problem. The manager also highlights that memory exposure is difficult to access on the ASX, positioning Sims as one of the few practical ways to gain that exposure.

Article, price recorded $25.03

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24 Aug 2026Pendal GroupHeldPendal Group continues to hold Sims because it beat 2H26 EBIT expectations by 13% on unexpectedly strong North American ferrous scrap performance amid a strong US steel price environment, plus gross-margin gains from operational improvements. The manager notes the stock fell after 1H27 guidance for its data-centre chip-recycling business, a major growth driver in FY26, disappointed due to hyperscalers delaying equipment refurbishment amid a short-term compute shortage, though Pendal still sees a strong medium-term runway and expects a return to growth from 2H27.

Newsletter, price recorded $23.99

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Articles

About Sims Ltd

Materials, Metals and Mining

Sims (ASX:SGM), the metal and electronics recycler, has doubled as fund managers back its US steel and data centre exposure. In September 2026, NorthStar Impact Funds topped up Sims after a post-result sell-off, noting steel remains a strong US end market. Pendal reported Sims beat second-half EBIT expectations by 13% on strong North American ferrous scrap performance amid high US steel prices. Yarra believes further catalysts remain after the stock doubled, while Spheria trimmed on relative valuation. NorthStar also highlights Sims Lifecycle Services, which recycles data centre equipment. Sims operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 26 comments from 10 fund managers, including NorthStar, Pendal, Yarra and Spheria. Founded in 1917 and headquartered in Mascot, Sydney, Sims recycles ferrous and non-ferrous metals in North America and Australia and operates Sims Lifecycle Services, which decommissions and recycles IT equipment for hyperscale data centres.

Market cap: $4.0b
Price to earnings: 20.0x
Return on equity: 9.4%
Dividend yield: 1.8%
Price to book: 1.81x
Net margin: 3.1%
52-week range: $13.65 to $31.81

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Sims Ltd (ASX:SGM)?

Fund managers including Maple-Brown Abbott, Yarra Capital Management, Eley Griffiths Group, Perennial Partners, Pendal Group, Spheria Asset Management, Ten Cap, Longwave Capital, NorthStar Impact Funds and Milford Asset Management have invested in Sims Ltd (ASX:SGM).

What opportunities or catalysts do fund managers highlight for Sims Ltd?

Managers highlight strong US ferrous scrap demand supported by onshoring of steel production, an earnings beat and growth in Sims Lifecycle Services from hyperscaler data centre equipment recycling, according to NorthStar, Pendal and Yarra.

What are the key risks to the Sims Ltd investment thesis, according to fund managers?

Spheria trimmed on relative valuation after a strong run, and NorthStar notes guidance for the newer Sims Lifecycle Services division was softer than hoped.

What does Sims Ltd (ASX:SGM) do?

Sims Ltd., founded in 1917 and headquartered in Mascot, Australia, specializes in metal and electronics recycling. The company operates through seven primary segments: North America Metals (NAM), Australia and New Zealand Metals (ANZ), UK Metal (UK), Global Trading, Investment in SA Recycling (SAR), Sims Lifecycle Services (SLS), and Unallocated. NAM, ANZ, and UK segments perform ferrous and non-ferrous secondary recycling. Global Trading manages international marketing and brokerage. SLS provides global electronic recycling solutions. The Unallocated segment includes corporate costs, joint ventures, and insurance interests.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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