KeyCorp Weighs in on Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Stock analysts at KeyCorp issued their FY2024 earnings per share estimates for Steel Dynamics in a research report issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs anticipates that the basic materials company will post earnings per share of $9.80 for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $8.93 per share.

Several other equities research analysts have also issued reports on STLD. BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Jefferies Financial Group decreased their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $140.88.

Steel Dynamics Stock Down 0.4 %

NASDAQ STLD opened at $122.37 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics has a 52 week low of $104.60 and a 52 week high of $155.56. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 12.49 and a beta of 1.36. The company has a fifty day moving average of $127.61 and a two-hundred day moving average of $126.38.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period in the prior year, the business earned $2.61 earnings per share.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. Steel Dynamics’s dividend payout ratio is currently 18.78%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,650 shares of company stock worth $1,498,170 over the last three months. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA grew its holdings in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Steel Dynamics during the third quarter worth $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

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.