FY2024 EPS Estimates for Steel Dynamics Decreased by Analyst

Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) - Stock analysts at Seaport Res Ptn reduced their FY2024 earnings per share estimates for Steel Dynamics in a report issued on Sunday, December 15th. Seaport Res Ptn analyst M. Englert now expects that the basic materials company will post earnings of $9.85 per share for the year, down from their prior estimate of $9.98. The consensus estimate for Steel Dynamics' current full-year earnings is $10.09 per share. Seaport Res Ptn also issued estimates for Steel Dynamics' Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $2.66 EPS, Q3 2025 earnings at $2.55 EPS, Q4 2025 earnings at $2.43 EPS and FY2025 earnings at $9.24 EPS.

STLD has been the subject of several other research reports. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and increased their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price on the stock. Finally, UBS Group reissued a "neutral" rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $146.13.

Steel Dynamics Stock Down 1.5 %

Steel Dynamics stock traded down $1.82 during midday trading on Wednesday, reaching $116.76. The stock had a trading volume of 1,944,687 shares, compared to its average volume of 1,289,408. The stock has a market capitalization of $17.78 billion, a P/E ratio of 10.57 and a beta of 1.31. The firm's fifty day simple moving average is $136.78 and its 200-day simple moving average is $127.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company's revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 EPS.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's payout ratio is 16.65%.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,591 shares of company stock worth $3,885,938. Company insiders own 6.00% of the company's stock.

Institutional Trading of Steel Dynamics

Institutional investors have recently modified their holdings of the stock. Holocene Advisors LP boosted its position in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock worth $289,400,000 after acquiring an additional 1,060,007 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock valued at $276,891,000 after purchasing an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock worth $228,999,000 after buying an additional 22,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock worth $194,933,000 after buying an additional 96,122 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock valued at $182,604,000 after buying an additional 53,532 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

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.