Q4 EPS Estimates for Steel Dynamics Cut by Seaport Res Ptn

Steel Dynamics, Inc. (NASDAQ:STLD) – Seaport Res Ptn decreased their Q4 2024 EPS estimates for Steel Dynamics in a report issued on Sunday, December 15th. Seaport Res Ptn analyst M. Englert now anticipates that the basic materials company will post earnings per share of $1.41 for the quarter, down from their prior forecast of $1.54. The consensus estimate for Steel Dynamics’ current full-year earnings is $10.09 per share.

A number of other brokerages have also recently weighed in on STLD. Morgan Stanley reduced their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, UBS Group restated a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $146.13.

Steel Dynamics Stock Down 2.6 %

STLD stock opened at $118.58 on Tuesday. Steel Dynamics has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $18.05 billion, a P/E ratio of 10.73 and a beta of 1.31. The firm has a 50 day simple moving average of $136.78 and a 200-day simple moving average of $127.75.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.47 earnings per share.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Holocene Advisors LP increased its holdings in 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 valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. Pacer Advisors Inc. increased its holdings in 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 buying an additional 140,042 shares during the period. Thrivent Financial for Lutherans grew its position in Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after acquiring an additional 22,390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Steel Dynamics by 6.6% in the third 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 valued at $194,933,000 after buying an additional 96,122 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Steel Dynamics by 3.9% during the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Activity

In other 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 in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 over the last three months. 6.00% of the stock is currently owned by insiders.

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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

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.