Seaport Res Ptn Forecasts Steel Dynamics FY2024 Earnings

Steel Dynamics, Inc. (NASDAQ:STLD) – Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for shares of Steel Dynamics in a note issued to investors on Tuesday, January 21st. Seaport Res Ptn analyst M. Englert forecasts that the basic materials company will earn $9.76 per share for the year. The consensus estimate for Steel Dynamics’ current full-year earnings is $8.93 per share. Seaport Res Ptn also issued estimates for Steel Dynamics’ Q4 2024 earnings at $1.32 EPS.

A number of other analysts have also commented on the company. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $143.38.

Steel Dynamics Price Performance

Shares of STLD opened at $122.35 on Thursday. Steel Dynamics has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a market capitalization of $18.63 billion, a P/E ratio of 12.48 and a beta of 1.36. The firm has a 50 day moving average of $127.27 and a 200 day moving average of $126.37. 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 (NASDAQ:STLD) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the prior year, the company earned $2.61 earnings per share.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,650 shares of company stock worth $1,498,170. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently made changes to their positions in the company. Commerce Bank grew its holdings in Steel Dynamics by 1.2% during the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after buying an additional 73 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Steel Dynamics by 0.9% in the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 91 shares in the last quarter. Covestor Ltd grew its stake in shares of Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares in the last quarter. Finally, Dorsey Wright & Associates increased its holdings in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares during the last quarter. 82.41% of the stock is 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.